Fungu'it, a foodtech startup based in Dijon, France, raised €4M led by Asterion Ventures. Founded in 2022, the company focuses on transforming agricultural by-products into natural flavorings through solid-state fungi fermentation. This funding will help Fungu'it establish an industrial pilot plant and further develop its innovative processes and products, including umami flavors for plant-based foods and a sustainable chocolate alternative. With the natural flavoring market in France showing promising growth, Fungu'it aims to capitalize on this trend by enhancing its commercialization efforts, particularly targeting plant-based alternatives.
Fungu'it aims to transform agricultural by-products into high-value natural flavourings through solid-state fungi fermentation, significantly reducing environmental impact and costs.
The funding will enable Fungu'it to build an industrial pilot plant for their innovative fermentation process and strengthen their sales team for market entry.
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