Brugg AG – Yeastup has raised more than 1 million Swiss francs in a Series A round. The young company from Aargau intends to use the funds to set up its first production plant for the extraction of proteins. Possible locations include Switzerland, Germany and the Netherlands.
Yeastup has raised more than 1 million francs in the first tranche of a Series A round, informs a post on startupticker.ch. Among others, the Aargauische Kantonalbank, Familiy Offices and an early stage venture capital firm (Early Stage VC) acted as investors of the young company from Brugg.
Yeastup specializes in the processing of brewer’s yeast into protein and dietary fiber. “With our upcycling process, protein recovery is up to 74 percent more resource efficient than the process using extra-planted peas,” co-founder Daniel Gnos is quoted as saying in the article. The company plans to use the funds raised to expand its pilot plant into a production facility capable of processing several 100 tons of yeast. It is to be established in Switzerland, Germany or the Netherlands.
In the same post, the company also communicates the successful conclusion of a number of contracts. “We have signed cooperation agreements with several companies for joint product and application development,” explains Gnos. In addition, Yeastup has entered into a ten-year agreement to purchase brewer’s yeast with a European brewer’s yeast intermediary that is not named in the article. This makes the company independent of contracts with individual breweries. “This gives us flexibility in opening new production sites – whether in Switzerland or Europe,” Gnos says. ce/hs
