Are ya hungry? Infinite Roots is a German startup that develops alternative meat products from mycelium, the root-like structure of a fungus. They just received $58M in funding from Thailand’s Betagro Group and REWE Group!

It’s fungi. According to their website, Infinite Roots grows and harvests mycelium as a versatile ingredient for planet-friendly meals.

‍

🍄 Here comes Betagro 

Betagro Group is a Thai food company that has a range of food businesses like pork and chicken farming, food processing, and pet food.

• In 2022, they entered the plant-based food market with Meatly, selling ready-to-cook products made primarily from soy protein.

‍

🌱 Alternative meat in SEA

Plant-based food startups are popping up more and receiving more funding in the region. 

• South Korea’s HN Novatech, which creates plant-based meat flavorings out of seaweed-extracted heme, raised $4M in a Series A bridge round recently. They also debuted their product in Singapore last year.
• Other players in the space include Meatless Kingdom (Indonesia), Green Rebel Foods (Indonesia), and Karana (Singapore).

‍

🍲 To infinite and beyond? 

Infinite Roots is set to release their product by the end of the year. 

• Oh, and they’ll use the $$$ for R&D.