Kinoko-Tech, a food-tech start-up specializing in fungi-based fermentation has inked a commercial agreement with investment company metaphor Foods to locally develop sustainable fungi-based food production in Australia. 

As part of the agreement, Kinoko-Tech will produce protein-rich products from the investment and expand across Malaysia, Singapore, Indonesia and New Zealand, with production slated to begin in 2025.

It will develop both meat and meat alternatives that aim to be more nutritious than existing plant-based options in the market, in addition to snacks such as muesli and nut bars, protein bars and crispy chips.

Enhancing nutritional footprint

The start-up’s technology is licensed from Yissum, the Hebrew University of Jerusalem’s tech transfer company, and uses fungi mycelium to grow on various legumes and grains. According to the company, this technology leads to healthy, natural foods with a higher nutritional footprint.

“This partnership marks a significant milestone in scaling up our production and making a meaningful impact on global food sustainability. With metaphor Foods and Hela APAC’s expertise, we’re well-positioned to expand our reach across the APAC region,” says Jasmin Ravid, CEO of Kinoko-Tech.

The “zero-waste” process of growing fungi mycelium helps increase protein and fiber content of the foods, without compromising taste or texture.

Geoff Gordon, director of metaphor Foods and Hela APAC, says: “At metaphor Foods, our role is to facilitate transformational food tech startups like Kinoko-Tech, enabling them to make a global impact. Kinoko-Tech’s technology is truly a game-changer in the food industry.”

In other updates from F&B startups, French protein company Standing Ovation netted €3.75 million (US$4.16 million) in funds to ramp up the development and sales of its precision fermentation-based casein protein for dairy applications.

Meanwhile, food-tech start-up specializing in fermented fungi-based ingredients, Nosh.bio, began a commercial partnership with European sausage producer Zur Mühlen Group to launch Koji Chunks, pegged as “the world’s first single-ingredient meat substitute.”