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ADM, Danone back Nature’s Fynd | 2020-03-25

ADM, Danone back Nature’s Fynd | 2020-03-25
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CHICAGO — Food tech company Nature’s Fynd, formerly Sustainable Bioproducts, closed an $80 million Series B funding round led by Breakthrough Energy Ventures and Generation Investment Management.

The company, which also is backed by ADM and Danone’s venture arms, uses fermentation technology to produce a protein from a microbiome originally discovered in Yellowstone’s geothermal springs. Containing all nine essential amino acids, the protein may be used to make a variety of products, ranging from meat and dairy alternatives to protein drinks and powders.

Production has begun at Nature’s Fynd’s new, 35,000-square-foot manufacturing facility in Chicago. Funds from the latest round will be used to hire an additional 100 employees by the end of the year, the company said.

“In these challenging times, securing food for our growing population under the immense pressure of climate change becomes even more urgent,” said Thomas Jonas, co-founder and chief executive officer at Nature’s Fynd. “We must find new solutions that can both nourish people and nurture the planet. Our innovative technology was developed by studying nature’s own solutions for adapting — and ultimately thriving — in environments with limited resources.

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