SMAQO secures funding to launch hybrid mycoprotein products

Hybrid Products

SMAQO secures funding to launch hybrid mycoprotein products

Rafaela Sousa

17 September 2025

SMAQO secures funding to launch hybrid mycoprotein products

Swedish foodtech company SMAQO has closed a funding round to support the development and launch of its first hybrid mycoprotein-based products.

The round was led by Singapore-based Good Startup (Good Protein Fund), with participation from ITIL Partners in Singapore and Nordic impact investor Nuora Capital.

SMAQO, founded by Ramkumar Nair, will use the investment to scale its fermentation platform, expand product development and introduce its first consumer products in the Nordic market before the end of 2025. International expansion is planned for 2027.

The company is developing a range of high-protein foods using proprietary fungi strains, aiming to offer clean-label products with lower environmental impact. SMAQO has also established production partnerships in Sweden and Asia, supporting its planned global rollout via an asset-light model.

Nair said: “This investment marks a significant milestone for SMAQO. We’re delighted that our new investors share our mission to transform the global food system with scalable, sustainable protein solutions. Their strategic backing will help us accelerate our market entry and drive meaningful impact on climate and food security.”

Gautam Godhwani, co-founder and managing partner at Good Startup, added: “We’ve been tracking the mycoprotein category for several years, and SMAQO stood out for its ability to combine technical excellence with commercial focus. Their platform has the flexibility to address multiple markets – from ingredients to ready-to-eat consumer products – and we’re excited to support their journey from lab to large-scale impact.”

Financial details of the funding were not disclosed.

Top image: © SMAQO

Solar Foods submits FDA GRAS notification for Solein protein ingredient

Solar Foods has filed a GRAS notification with the US Food and Drug Administration for its microbial protein ingredient, Solein, as it seeks to secure a “no questions” letter confirming the product’s safety.

ORF Genetics secures €5m to scale MESOkine growth-factor production

Icelandic biotech company ORF Genetics has raised €5 million to expand production of its MESOkine growth-factor portfolio for the cultivated meat sector.

Interview: How New Harvest is creating a sustainable food hub in Canada’s Prairies

Miranda Stahn, New Harvest’s programme manager for Western Canada, and Yadira Tejeda Saldana, the organisation’s Canadian director of responsible research and innovation, explain how CAPE plans to help farmers create new income streams, make better use of agricultural sidestreams and build a strong, sustainable food innovation hub in the Prairies.

Myriameat develops hybrid sausage using cultivated pork

German start-up Myriameat is collaborating with two undisclosed industry partners to develop a hybrid sausage combining conventional and cell-cultured meat, without plant-based additives.