MAASH secures €12.15 million to scale mycoprotein production

Brussels-based fermentation startup MAASH has secured a €12.15 million funding package to transition from research and development to industrial-scale production of mycoprotein. The funding is a combination of equity and public support, including a €5.85 million investment from several new investors such as Ambra Capital, InvestPro, Bpifrance, Amorçage Industriel, Nordzucker, and Tereos. Additionally, Bpifrance provided €4.3 million through its Première Usine programme and a €2 million loan via the Prêt d’Amorçage Investissement initiative under the France 2030 plan.

The capital will support the launch of a demonstration plant in Carling-Saint-Avold, France, at a site previously owned by Metabolic Explorer. This facility is intended to prepare the company for an annual industrial production capacity of up to 10,000 tons. MAASH produces LoCylia™, a high-protein, fiber-rich ingredient derived from fungi through controlled fermentation, aimed at B2B food manufacturers seeking sustainable alternatives to animal proteins.

Alongside this financing, the company has appointed Samah Garringer, a former executive from Enough Foods, as its new Chief Executive Officer.