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Swedish food-tech start-up Millow has completed a €2 million funding round to expand manufacturing capacity for its clean-label fungal protein platform.
Utilising a proprietary solid-state fermentation process, the Gothenburg-based enterprise converts Swedish oats and mycelium into whole-food protein ingredients formulated without binders, chemical additives, or artificial ingredients.
The capital injection will fund the expansion of Millow's production facility, supporting commercial deployment across the Nordic foodservice sector and meeting growing international demand for sustainable alternative protein ingredients.
Allocation and Investor Backing
The financing round was led by Swedish entrepreneur and angel investor Magnus Emilson, alongside Vitamin Well co-founder Jan Enhager. As part of the transaction, Enhager will serve as a strategic advisor to Millow Chief Executive Officer Fredrik Öhrn.
Additional participants in the investment round include two co-founders of Swedish technology enterprises with combined corporate exits exceeding $2 billion, alongside private investors from the Scandinavian food sector.
Fredrik Öhrn, Chief Executive Officer of Millow, stated that the capital round provides the business with the production volume and commercial infrastructure needed to serve high-volume foodservice contracts. Öhrn noted that the industry experience and network brought by Emilson and Enhager will accelerate the company's market penetration across commercial kitchen channels.
Solid State Fermentation
Millow's processing platform relies on solid-state fermentation, growing mycelium directly on a substrate of whole Swedish oats. The resulting fungal protein structure maintains textural integrity without requiring secondary texturisation, binders, or functional additives.
Key technical specifications and environmental performance metrics of the production process include:
🌾 Whole-Food Ingredient Base: Formulated using Swedish oats and mycelium without binders, synthetic texturisers, or artificial additives.
💧 Water Efficiency: Requires 3 to 4 litres of water per kilogram of finished product during processing.
🌍 Verified Carbon Footprint: Delivers an independently verified carbon footprint of 0.3kg $CO_2e$ per kg, assessed by research institute Rise, representing a 98 per cent reduction compared to Swedish beef.
📜 Proprietary Patent Clearance: European Patent Office confirmed the formal closure of the nine-month opposition window for Millow's core patent with zero oppositions filed, securing international intellectual property rights for its low-water production method.
Foodservice and Execution
The enterprise is actively advancing commercial discussions with major foodservice operators and food distributors across the Nordic region, alongside evaluating initial inquiries from international markets.
Engineered to fit existing culinary workflows, the protein ingredient is supplied in formats designed for direct integration into commercial restaurant and institutional kitchen operations.
The expansion positions Millow to scale commercial delivery of its oat and mycelium protein platform as foodservice operators seek clean-label, low-impact plant-based menu options.
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