Mushroom mycelium is now used in many areas as a versatile, bio-based material: loudspeaker boxes, insulation panels or even stage sets. Another field of application is protein-rich meat substitutes, for which single-cell mushrooms are propagated and harvested. With this method, the start-up Kynda wants to create the basis for a new generation of vegan products and at the same time promote the circular economy in the agricultural and food industry.

Founders Daniel MacGowan von Holstein and Franziskus Schnabel are now one step closer to achieving these goals with €3 million in financing capital. The financing round was led by Enjoy Ventures, followed by an investment from the PHW Group and Clima Now. C.E.L.L. Investment will also join the new group of investors in a second round.

Innovative fermentation process

As in a brewery, Kynda produces mycelium, the root-like network of fungi, in large steel tanks. This nutrient-rich biomass, also known as mycoprotein, is then processed into meat substitute products. Compared to protein production using animals, water consumption and greenhouse gas emissions can be significantly reduced. To achieve this, the start-up combines a new generation of fermentation reactors with biotechnological expertise. Agricultural by-products from the region can be used as feed for the mushrooms, which can close local material cycles and make the process more resource-efficient.

New strategic partner and new plant

Kynda has not only gained the PHW Group as an investor, but also as a strategic partner. With brands such as WIESENHOF and Green Legend, the group has established itself in the market for alternative proteins in recent years.

The start-up plans to open a new production facility in Jelmstorf near Hamburg in the second quarter of 2025 and is already planning to expand it in order to meet the growing demand from its customers.

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