Millow Secures €2M to Expand Mycelium Protein in Nordic Foodservice

## Swedish Foodtech Company Expands in Nordic Market Swedish foodtech company Millow has secured €2 million in funding to expand its production capacity and strengthen its commercial operations in the Nordic foodservice market. The funding round was led by serial entrepreneur and angel investor Magnus Emilson, with participation from Jan Enhager, co-founder of Vitamin Well, who will also join Millow as a strategic adviser to CEO Fredrik Öhrn. Millow's mycelium-based protein ingredients are designed for the B2B foodservice and retail markets. The company's patented solid-state fermentation process combines Swedish oats with mycelium to produce a protein ingredient made from two core ingredients without binders or additives. This fungi-based product is designed to work in the kitchen in formats already familiar to chefs, setting it apart from plant-based alternatives. ## Sustainable Production Process Millow's production process uses between three and four litres of water per kilogram of product, resulting in a lower carbon footprint compared to traditional protein sources. According to an independent assessment by Swedish research institute RISE, the product has a carbon footprint of 0.32 kg CO₂e per kilogram, approximately 98 per cent lower than Swedish beef. This sustainable approach aligns with the growing demand for environmentally friendly food options. ## Expansion and Growth The new capital will be used to increase production capacity and build out Millow's commercial team as the company expands in the Nordic foodservice market. Millow is currently in discussions with major foodservice operators and distributors across the region, with international interest also growing. The company's core patent, which covers the low-water production method underpinning its fermentation process, has been confirmed by the European Patent Office, with no oppositions filed during the nine-month opposition period.