Scottish food tech startup raises €40M to make plant-based food taste more delicious and nutritious
ENOUGH, a Glasgow-based food technology startup, has triumphantly secured €40 million in growth funding to elevate the palatability and nutritional value of plant-based foods. The funding, co-led by World Fund, Europe’s premier climate tech venture capital firm, and CPT Capital, a leading food technology investor, received contributions from previous investors, including AXA IM Alts, HAL Investments, Onassis Group, Tailored Solutions, and Scottish Enterprise.
This recent injection of funds has propelled ENOUGH’s total capital raised to over €95 million, empowering the company to amplify production capacity and expand teams across multiple locations.
This strategic investment will bolster ENOUGH’s commitment to boosting the capacity of its primary production site in the Netherlands, addressing the escalating demand for sustainable protein.
Jim Laird, founder and CEO of ENOUGH, expressed, “Significant strides in launching our new factory in the Netherlands and expanding collaborations across the UK and Europe have been made. This fresh funding will propel accelerated growth. The alternative protein market’s immense value and the urgency for non-animal protein sources for ethical and environmental reasons are paramount. Leading this food revolution with our proprietary ABUNDA mycoprotein is a source of pride. We eagerly welcome our new partners, World Fund, and anticipate a collaborative journey in ENOUGH’s next growth phase.”
ABUNDA – sustainable protein production
Originally known as 3F BIO, ENOUGH was established in 2015 by Craig Johnston and Jim Laird in Glasgow, Scotland, with a dedicated focus on meeting the global demand for sustainable protein. The company introduced ABUNDA mycoprotein, a revolutionary product created by fermenting fungi with renewable feedstocks to yield abundant alternative protein ingredients.
ABUNDA boasts up to 15 times greater efficiency than beef protein, thanks to ENOUGH’s proprietary technology and zero-waste production. Utilizing up to 93% less water, 97% less feed, and causing 97% fewer CO2 emissions than beef protein, ABUNDA not only stands out environmentally but also proves more economically viable to produce.
EN0UGH’s approach has forged partnerships with industry giants such as M&S and Unilever, solidifying its influential position in the food technology sector.
A circular approach
In alignment with their mission, ENOUGH recently inaugurated a protein factory in Sas van Gent, Netherlands, in collaboration with Cargill. The partnership aims to ensure efficient feed sources, uphold a zero-waste approach, and is expected to yield over 60,000 metric tonnes of ABUNDA annually, surpassing one million tonnes by 2032.
Craig Douglas, Founding Partner at World Fund, commended ENOUGH for addressing crucial bottlenecks in sustainable protein creation, emphasizing the company’s lower carbon footprint compared to other plant-based protein sources. Harry Kalms, CPT Capital, expressed excitement about supporting ENOUGH’s positive impact on the global food system, citing the company’s strong foundations and its move into large-scale commercialization.
