The Finnish biotech firm, which has been in operation for five years, recently secured €2.5 million in funding from two ethically-aligned investors – Applied Food Sciences (AFS) and HL Hall and Sons Group. The investment, along with an additional €1 million in debt, will be used to expand the firm’s transparent, organic production line. The company believes that its supply chain, which is controlled from ‘spore to extract’, provides much-needed trust and quality that has been lacking in the market.
Founder and CEO, Eric Puro, explains that many suppliers in the industry are not trusted and the regulatory system has not caught up. However, visiting their factory and witnessing their production process allows clients to have confidence in the products they receive. The firm’s strong ethos and winning the NutraIngredients startup award in 2021 were instrumental in securing the investment.
The €3.5 million investment will be used to acquire a new factory, a freeze dryer, and increase capacity across the manufacturing line. The firm has also doubled its forestry coverage, making it the world’s largest Chaga growing entity. They employ a sustainable process to grow Chaga mushrooms, working with forest owners to inoculate live birch trees and harvest the Chaga when it is ready. They also offer the option for forest owners to inoculate tree logs with rare and endangered fungal species.
While the firm produces a wide range of mushrooms, their top-seller is Lion’s Mane, known for its cognitive health benefits. Puro reveals that the firm just completed a human clinical trial on the mushroom’s cognitive health benefits and has more studies in the pipeline. He believes that the mushroom market is growing rapidly, especially as more brands are shifting from CBD to mushrooms due to regulatory barriers.
Puro sees a future trend in nutraceutical brands utilizing mushrooms for their antioxidant and anti-inflammatory potential. He also sees opportunities in the sports performance space, with Cordyceps offering benefits such as improved VO2 max. The firm has started working with professional football clubs to test these products with athletes, with positive results.
Looking ahead, Puro hopes to see mushrooms being utilized in clinical settings to address rising healthcare costs. He notes that doctors in Spain are already using Lion’s Mane on patients with dementia and cognitive disabilities with positive outcomes. Overall, he is excited about the potential of the industry and the positive impact mushrooms can have in various sectors.
Keywords: food and beverage industry trends, food manufacturing trends, food processing technology, food distribution trends, food and drink industry innovation, food and drink sustainability, food and drink regulations, food and drink packaging, food and drink marketing, food and drink consumer trends.
