The Protein Brewery has raised €30 million (US$35.4 million) in its series B funding round to expand the rollout of its fungi-based protein ingredient Fermotein in markets such as Singapore and the US.

The Protein Brewery is a Dutch company that develops food ingredients using fungal fermentation.

The company said it will use the new funds to scale up production at its facility in the Netherlands and to increase commercial and R&D partnerships, especially in Singapore.

The round included new investors Invest-NL and the Brabant Development Agency, with participation from existing backers Novo Holdings, Unovis Asset Management, and Madeli.

Fermotein received regulatory approval from the Singapore Food Agency in 2024, enabling the company to launch the ingredient in Singapore.

🔗 Source: The Protein Brewery