Millow Secures €2M for Mycelium Protein Expansion

Swedish foodtech company Millow has secured €2 million in funding. The investment will significantly scale production capacity and commercial operations for its mycelium-based protein. Millow aims to expand its sustainable protein offering across the Nordic foodservice market, targeting growing demand for environmentally conscious food solutions.

This funding round contributes to a dynamic period for the European startup ecosystem. Recent reports indicate robust investment activity across the continent, with over 35 tech funding deals tracked in Europe totalling more than €763 million in the week prior to August 14, 2026, as reported by Tech.eu. This broader trend reflects sustained investor interest in innovative ventures, although the specific sectors attracting these investments are diverse. Millow's success within this landscape underscores the increasing focus on sustainable solutions.

Millow's commitment to mycelium protein places it at the forefront of the sustainable food sector. Mycelium, the root structure of mushrooms, offers an alternative protein source with a significantly lower environmental footprint compared to traditional animal agriculture. Its production typically requires less land, water, and emits fewer greenhouse gases. The company’s strategic expansion into the Nordic foodservice market is designed to capture the strong demand for plant-based and sustainable options in a region known for its progressive culinary trends and environmental awareness. Scaling production is a critical step for Millow to meet anticipated demand and establish a stronger market presence, while enhanced commercial operations will bolster the distribution and adoption of their innovative protein products, reaching a wider customer base within the foodservice industry.

What this means: Millow's successful funding round highlights investor confidence in sustainable food technologies and the potential of mycelium-based proteins to address critical market needs. It signals continued growth for alternative protein solutions, particularly within the Nordic region.