What the business is
Develops fermentation technology to produce alternative proteins that replace meat, dairy and eggs, using a gas-derived liquid instead of sugar.
The bet
That fermenting a liquid feedstock made from CO2, hydrogen, nitrogen and renewable energy can make protein cheaply, anywhere, with far less land than beef.
Starting capital
EUR 1.2M pre-seed, then EUR 4.8M seed
How it started
Adnan Oner started Farmless in 2021. Instead of sugar, the company ferments a liquid made from carbon dioxide, hydrogen, nitrogen and renewable energy, which Oner says can brew proteins using up to 5,000x less land than beef and be transported to local breweries.
What happened
Over about 15 months the company built a team of eight, a small-scale R&D facility and identified a microorganism it can ferment into different food applications. It raised a EUR 1.2M pre-seed in about May 2023, then closed a EUR 4.8M seed in September, co-led by World Fund and Vorwerk Ventures with existing investor Revent, announced on 2023-12-04. Funds go to a pilot brewery in Amsterdam, technology development, hiring, regulatory approval and a test kitchen.
How it ended up
As of 2023-12-04 Farmless had closed the seed and was building a pilot brewery; it had no revenue and said it must clear regulatory hurdles before selling its first product.
What has to be true
Sugar feedstock ties fermentation to agricultural land; a gas-derived liquid can be made where energy is cheapest.
A pilot brewery lets the team learn lessons before building a first-of-a-kind commercial brewery.
Investors such as World Fund looked for ways to cut land use and emissions, noting farming and land use produce about 22% of global emissions.
What can be applied
In a funding downturn, a distinct technical input, here a non-sugar feedstock, can still close a round fast, but regulation and scale-up remain the real gates.
Aftermath
As of 2023-12-04 Farmless had a team of eight, a small R&D facility, a microorganism it can ferment, EUR 6M raised across two rounds and an Amsterdam pilot brewery planned, with commercialization dependent on regulatory approval.
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