Food Tech: 10 Innovative Alternative Protein Startups To Watch

We take a look at 10 promising investment opportunities in the booming market for alternative protein.

Big Idea Ventures, a venture firm focused on solving the world’s greatest challenges by backing the world’s best entrepreneurs, scientists and engineers, revealed its accelerator cohort a while back. Through its three funds – the New Protein Fund, the Generation Food Rural Partners fund and the Strategic Opportunities fund –  Big Idea Ventures invests in the best food, food technology and agritech companies globally. 

 

“The 17 companies in our latest cohort are all working to solve key challenges in the alternative protein industry today. From new extraction and fermentation methods to AI-enabled micro fluids, connected bioreactors, and cell-based fats, these companies offer compelling solutions to scale production, cut costs and improve both the nutrition and taste profiles of alternative protein products. 

 

I encourage investors, corporate leaders, and partners to reach out to the founders of the companies that most excite them and find out more about the innovative technologies and applications they are developing,” said Andrew D. Ive, Founder and Managing General Partner of Big Idea Ventures.

 

We take a look at some of these promising start-ups to witness the cutting-edge innovation and possibilities they’re bringing on…. 

 

1. ImpacFat | Singapore

ImpacFat specializes in the production of cultivated fat to greatly enhance the flavor, texture, aroma and nutrition of alternative protein products. This is the first company with a focus on fish cell-based fat. The team has filed IP for their technology and currently works on scale-up manufacturing and optimisation of the taste and nutritional values of novel foods. 

 2. Loki Foods | Iceland

Loki specializes in using 100% renewable energy to produce plant-based alternative-seafood products in Iceland, the seafood capital of the world. They will launch plant-based white fish (analogue of Atlantic Cod) in 2023, as well as a line of seafood products to replace conventional seafoods.

3. BLUU SEAFOOD | Germany

BLUU SEAFOOD, based in Berlin, pioneers sustainable seafood alternatives using advanced cell cultivation. They replicate fish cells, creating delicious options without the ecological impact of traditional fishing. Thriving at room temperature, their approach is more energy-efficient than meat cell cultivation. BLUU SEAFOOD’s diverse cell lines produce convincing alternatives for salmon, trout, and carp, setting them apart in the cultured meat industry. Their innovation signals the future of sustainable and delectable seafood alternatives, including whole-cut fillets.

 

4. Mycosortia | Singapore

Mycosortia specializes in turning food side streams that are unfit for human consumption into edible alternative protein products using microbial consortia fermentation. They supply microbial fermented and plant-based proteins as green labeled food ingredients via B2B partnerships. They also formulate and supply alternative protein food products to customers using upcycled food ingredients via B2B and B2B2C sales.

5. Thrilling Foods | United States

Thrilling Foods manufactures and sells Bakon, a patented bacon alternative made from soy milk that is traditionally salt cured and hardwood smoked, both DTC on their website and B2B to grocery stores and restaurants. Bakon is composed of both fatty and lean layers that constitute a very similar texture and macronutrient values as traditional pork bacon, which along with the traditional cure, make it more bacon-like than competing products.

6. STANDING OVATION | France

Standing Ovation, a Parisian startup founded in 2020, is reinventing cheese production with a unique fermentation technology. What sets them apart is their commitment to sourcing non-conventional dairy ingredients, excluding caseins. Ingeniously overcoming this, they produce caseins through fermentation. The process involves cultivating protein-producing microbes, extracting and purifying cheese proteins, and seamlessly integrating them with plant-based ingredients like lipids and sugar. Standing Ovation isn’t just a startup; it’s a cheese revolution!

7. Geniune Taste | Canada

Genuine Taste is a cell-based agriculture startup that produces cultivated fat to improve the taste, texture, aroma, and nutrition of alternative protein products. Their patent-pending scaffolding technology enables the cultivation of fat cells in the exact microenvironment they naturally grow in. This results in significant increases in cell proliferation, cell viability, and higher cell-per-volume yields compared to conventional cell culturing methods.

8. Solar Foods | Finland

Solein, the brainchild of Solar Foods, is not just protein; it’s a protein marvel, literally conjured from the air we breathe. With a composition boasting 65-70% protein, 5-8% primarily unsaturated fats, 10-15% dietary fibres, and 3-5% essential mineral nutrients, Solein mirrors the macronutrient profile of dried soy or algae. Iron, fibre, and B vitamins are part of its nutritional repertoire. While protein exists in both plant and animal sources, not all edible proteins are created equal. They differ in amino acid combinations, and their essence lies in the ratio and amount of essential amino acids they contain.

Our firsthand experience with Solein at a press and media event last year left us not just pleasantly surprised but thoroughly impressed. Safe to say, it’s a taste of the future that goes beyond expectations.

9. Shocken | United Kingdom

Shoken is a London-based gourmet vegan meat manufacturer focusing on deli slices and pizza toppings like pepperoni. The company’s roadmap is built for speed and maximum impact. Their strategy focuses on key global partnerships and high volume accounts in the foodservice and pizza sectors. Backed with Michelin credentials and skills, they have the expertise to  create indulgent, taste addictive flavor formulas.

10. Real Deal Milk | Spain

Real Deal Milk employs precision fermentation, guiding yeast cells with genetic instructions to produce pure casein and whey proteins found in milk. This innovative process ensures targeted protein synthesis, separating the final product from yeast cells for immediate use.