Jeff Bezos, Bill Gates, and other investors are supporting the research and production of Nature’s Fynd artificial meat and dairy products with around $158 million. The basis of the product is a microbe used for fermentation.
The food start-up ‘Nature’s Fynd’ has been around since 2012 when founder Mark Kozubal and his team began researching a fungus discovered in the hot volcanic springs of Yellowstone National Park. The product is considered the “next big thing,” an important new alternative protein. That’s why Amazon founder Jeff Bezos and philanthropist Bill Gates, among others, are now investing in the Chicago-based project. Politician and environmental activist Al Gore is also on the investment team. Gates introduced the first products earlier this year on the popular CNBC show 60 Minutes. Now there is further capital for the company.
The Food tech start-up ready to launch
Fy is the fermented, versatile, high-protein source used to create meat substitutes and dairy alternatives in the lab. The food-tech startup relies on mushrooms as the main ingredient to create alternative foods. The company’s meatless breakfast patties and dairy-free cream cheese are expected to hit grocery store shelves later this year, with other meatless products such as burgers, chicken-free nuggets, and even yogurt in development.
A lot of hope is now being pinned on the company, he says – partly because substitute products can also be produced in large quantities with less effort and resources than “conventional” foods.
It’s also a big growth market in industrialized nations. According to the Plant-Based Foods Association (PBFA), a trade group with more than 200 member companies, the alternative foods sector jumped in 2020. U.S. retail sales grew 27 percent and the total market value grew to $7 billion. That’s according to a CNBC report on Fy. The emerging industry is still led by Beyond Meat and Impossible Foods, whose burgers, chicken, and sausage products made from meat alternatives are the talks of the town.
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