NapiFeryn BioTech closes a €2.5 Million Investment round to launch its canola/rapeseed protein from large oil pressing side streams. – Napiferyn
Summary
(NapiFeryn), creator of unique, patented technology for obtaining rapeseed protein from side-streams of oil pressing, has closed a 2.5 million investment, led by Icos Capital and joined by a Polish family office.Founded in Poland in 2014, NapiFeryn developed and patented a unique process to obtain rapeseed proteins (Raptein\xae) from the side-streams of oil pressing. That is exactly what is needed to drive adaptation of plant-based protein alternatives to meat and dairy ingredients.The round includes funding from leading European ClimateTech Venture Capital firm, Icos Capital, who has also established its ClimateTech credentials with investments in food and food ingredients companies such as BioActor (health ingredients), which was recently sold to French corporate Solabia Group, InnovoPro (chickpea proteins), Nutrileads (plant-derived human health ingredients) and WholeFiber (prebiotic fibers for a healthy gut microbiome).The round was also joined by a local Polish family office with expertise and capital means to support further scale-up and growth of the company.Dr. Magdalena Kozlowska, CEO and Founder at NapiFeryn, said: This financing round demonstrates investor confidence in the ability of our team to achieve commercial scale of our technology. Piotr Wnukowski, CTO and Founder at NapiFeryn, and inventor of the unique process, added: Joining forces with Icos Capital ultimately brings us closer to achieve the next major milestone which will be the deployment and demonstration of the technology of NFB on an industrial scaleDr. Peter van Gelderen, Managing Partner at Icos Capital commented: The transition from animal-based food products to plant-based alternatives is proving to be a bumpier road than many may have expected.