ENOUGH raises €40m in growth funding from World Fund and CPT Capital to expand production
The financing round was co-led by World Fund and CPT Capital to help scale sustainable protein production in Europe.
≈ £34.2M at €1 = £0.8541 on 21 Aug 2023
Glasgow-based ENOUGH develops sustainable mycoprotein ingredients through zero-waste fermentation to meet global demand for plant-based foods.
Glasgow-based food technology company ENOUGH has secured €40m in growth funding to expand its production capabilities and team. The investment round was co-led by World Fund and CPT Capital, alongside contributions from AXA IM Alts, HAL Investments, Onassis Group, Tailored Solutions and Scottish Enterprise. The fresh capital follows the launch of the company's primary production facility in the Netherlands and supports efforts to meet rising demand for sustainable protein sources.
Founded in 2015, ENOUGH uses proprietary fermentation technology to produce ABUNDA mycoprotein as an alternative to animal proteins. The company partners with major brands including Marks and Spencer and Unilever, aiming to scale production significantly over the coming decade.
From the founder
"Our strides in launching the new factory in the Netherlands and expanding collaborations across the UK and Europe have been significant. This fresh funding will drive accelerated growth."
Jim Laird
CEO at ENOUGH
Investor perspective
"We’re delighted to be supporting ENOUGH as they scale up to become the global leader in sustainable protein. The company is tackling crucial bottlenecks in the creation of sustainable protein, whilst using fewer resources and maintaining a zero-waste process, which is enabling ENOUGH to have a lower carbon footprint compared to other plant-based protein sources, whilst producing at scale and providing supply security to a growing market. It helps that the products featuring ABUNDA are delicious too. ENOUGH’s work has the potential to help combat food scarcity, reduce the use of resources in the food industry and reduce emissions on a global scale and we look forward to working with Jim and the team to help them achieve this."
Craig Douglas
Partner, World Fund
Use of funds
- 01Expand into international markets
- 02Grow the team
Investors
Craig Douglas
World Fund
Harry Kalms
CPT Capital
AXA IM Alts
HAL Investments
Onassis Group
Tailored Solutions
Scottish Enterprise