ProteinDistillery secures €15 million

ProteinDistillery, an up-and-coming company from Esslingen, secures €15 million in its first financing round. The goal: to develop and commercialize sustainable plant-based protein ingredients for the food industry.

Esslingen / Berlin - 07.03.2024, The startup ProteinDistillery has successfully raised over €15 million in its first financing round. The company plans to use these funds to develop and commercialize innovative plant-based protein ingredients to transform the food industry. The investors share the vision of a healthier and more sustainable future.

The main investors are the Green Generation Fund from Berlin, an impact VC in the FoodTech sector, and a startup family office with connections to German SMEs. The financing is supported by business angels such as Wendelin Wiedeking and experts from the industry. Financial agreements with Sparkasse Esslingen-Nürtingen and government support also contribute to the financing.

Focus on protein solutions

ProteinDistillery is focusing on the development of Prew:tein™ (patent pending), a plant-based protein ingredient made from upgraded brewer's yeast. The funding will be used to improve the properties of the protein and drive forward the valorization of by-products. The company aims to establish itself as a supplier of clean, functional and sustainable protein ingredients.

Outlook and goals

The funds received will be used strategically to support company growth, market entry and key partnerships in the food industry. In addition, ProteinDistillery plans to open Europe's first protein competence center in Heilbronn, southern Germany.

Furthermore, the startup plans to set up an industrial production facility with the capacity to produce several thousand tons of protein per year. This step requires a well thought-out financing strategy. The company is confident that its track record and relationships with influential industry leaders will enable it to make a significant contribution to the German biotechnology sector.