Nature's Fynd
| Company type | Private |
|---|---|
| Industry | Food technology, Alternative protein |
| Predecessor | Sustainable Bioproducts LLC |
| Founded | 2012 in Chicago, Illinois, United States |
| Founder | Mark Kozubal, Thomas Jonas, Yuval Avniel |
| Headquarters | Chicago , United States |
Area served | United States |
Key people | Thomas Jonas (CEO), Mark Kozubal (CSO), Yuval Avniel (Director of Intellectual Property & Special Projects), Karuna Rawal (CMO), Eleanore Eckstrom (Director of Product Design) |
| Products | Microbe-derived protein products including animal-free cream cheese, chicken nuggets, beef sliders, pork dumplings, chocolate mousse |
Number of employees | 50 (2020) |
| Website | naturesfynd |
Nature's Fynd (previously known as Sustainable Bioproducts LLC) specializes in creating proteins derived from microbes to serve as alternatives to traditional meat and dairy products. Their innovation stems from a fungus identified in the geothermal springs of Yellowstone National Park. Established in 2012 and based in Chicago, the firm has attracted investments from U.S. government bodies and venture capital entities such as 1955 Capital, ADM, Breakthrough Energy Ventures, Danone, Generation, and Softbank.
Company and product history
The discovery of the "Fy" protein originated in 2009 when co-founder and chief scientific officer Mark Kozubal identified it within the acid-loving fungus Fusarium strain flavolapis during a NASA-supported investigation into organisms thriving in extreme conditions. While the initial focus was on producing biofuels, Kozubal and CEO Thomas Jonas shifted their attention toward food-related applications. This transition led to the formation of Sustainable Bioproducts LLC in 2012.
In 2013, the company collaborated with Montana State University to evaluate market opportunities for the MK7 protein and negotiated a revenue-sharing agreement with Yellowstone National Park for access to harvesting rights. Their research and development endeavors received multiple SBIR grants from agencies including the National Science Foundation, USDA, EPA, and NASA.
Sustainable Bioproducts secured $33 million in Series A financing in February 2019, spearheaded by 1955 Capital and supported by investors like Breakthrough Energy Ventures, ADM Ventures, Danone Manifesto Ventures, among others. At that point, the startup employed 22 individuals and operated from the Polsky Center at the University of Chicago, aiming to bring products to market within two years.
The company rebranded to Nature's Fynd in March 2020 and completed an $80 million Series B funding round led by Breakthrough Energy Ventures alongside Generation Investment Management. These funds enabled the establishment of a 35,000-square-foot production facility in Chicago near the historic Union Stock Yard district dedicated to manufacturing their microbe-derived protein products. This protein is noted for its superior efficiency and comprehensive nutritional profile relative to competitors and is positioned within the growing sector of fermented food ingredients. By this time, Nature’s Fynd had expanded its workforce to 50 employees across its Chicago production site and research center in Bozeman, with plans to double staff by year-end.
The Chicago manufacturing plant was designed for producing branded consumer goods such as animal-free cream cheese, chicken nuggets, beef sliders, pork dumplings, and chocolate mousse. Simultaneously, the company pursued regulatory approvals including GRAS designation and product labeling clearances for their fermented fungus-based protein.
In December 2020, Nature’s Fynd raised an additional $45 million through venture debt and equipment financing aimed at supporting product launches planned for 2021 along with workforce growth, bringing total capital raised to $158 million.
On February 14, 2021, investor Bill Gates featured Nature’s Fynd during a 60 Minutes segment highlighting innovations contributing to climate change mitigation. The next day, Nature’s Fynd announced availability for preorder of its initial offerings: dairy-free cream cheese and plant-based breakfast patties.
Key personnel
- Thomas Jonas, co-founder and chief executive officer, is a French business leader with prior experience as president at MeadWestvaco and service as an officer in the French Air Force.
- Mark Kozubal, co-founder and chief scientific officer, is a geomicrobiologist affiliated with Montana State University who previously conducted NASA-funded research.
- Yuval Avniel, co-founder and Director of Intellectual Property & Special Projects, holds expertise as a material scientist and is a registered patent agent.
- Karuna Rawal serves as chief marketing officer, having joined from Publicis Groupe, parent company of Leo Burnett Worldwide.
- Eleanore Eckstrom is director of product design with prior experience as a food scientist at Kraft Heinz.
Science
MK7 is derived from a fungus that consumes algae and generates an oil-rich lipid byproduct. The company's primary offering, "Fy" (an abbreviation of Fusarium str. yellowstonensis), provides a complete protein source encompassing all nine essential amino acids, designed for use in meatless burgers, dairy alternatives, and protein supplements. Unlike many alternative protein products, Fy is considered a whole food rather than merely a protein concentrate.
Referred to as Fusarium Spp, its mycelial structure creates a protein-dense meat substitute through processes such as drying, pressing, and flavoring, without the need for bioreactors. This method naturally cultivates extremophilic organisms, producing protein that includes fibers, oils, and micronutrients like vitamin B12, vitamin D, iron, and calcium. The fermentation process utilizes starches and simple sugars as energy sources.
Fy’s manufacturing demonstrates remarkable efficiency compared to traditional plant or animal protein production, with biomass doubling within hours regardless of seasonal changes. A single tray can yield the equivalent protein of 30 chickens in just 3.5 days. The company partners with NASA to advance bioreactor technology for space missions using the Fy microorganism.
See also
External links
- Companies based in Chicago
- Food and drink companies of the United States
- Food and drink companies established in 2012
- American companies established in 2012
- 2011 establishments in Montana
- Meat substitutes
- Food and drink companies based in Illinois
- Privately held companies based in Illinois
- Companies of the United States by year of establishment