Adamo Foods’ Mycelium Steak: The Future of Protein Backed by Joyful Ventures

A Healthier Steak with 93% Less Greenhouse Gas Emissions Than Conventional Beef

By Jacob Benoist

Adamo Foods, a trailblazing UK-based food tech startup, is shaking up the alternative protein industry with its groundbreaking mycelium-based whole-cut steaks that look, taste, and cook like the real thing.

Fresh off a $2.5 million USD Seed funding round, co-led by Joyful Ventures and Future Planet Capital, Adamo is poised to revolutionize the way we think about meat. Recently recognized among “8 Great British Startups that are Going to Change the World” by The Grocer, Adamo’s innovative steaks promise not only a delicious dining experience but also significant health and environmental benefits.

Made entirely from fungi, these steaks are packed with protein and fiber, zero cholesterol, and are free from unhealthy additives. Environmentally, they boast an impressive 93% reduction in greenhouse gas emissions compared to conventional beef, which positions Adamo at the forefront of sustainable food innovation. With this strong financial backing, the company is on the cusp of launching the world’s first ultra-realistic and clean label steak alternative, setting the stage for a delicious and sustainable future.

Seizing the Moment: Strategic Investments for Growth‍

With the close of this funding round, Adamo Foods is on a fast track to growth. Alongside Joyful Ventures and Future Planet Capital, the round attracted investment from Beeches Capital, SFC, and Katapult VC, blending equity funding with an innovation grant.

This financial injection will allow Adamo to scale up production, test their premium steaks in top restaurants, and develop a new chicken alternative. It also supports the transition from lab-scale to full commercial operations by funding the construction of commercial facilities.

Pierre Dupuis, Founder and CEO of Adamo Foods, commented, “This is a pivotal moment for Adamo. We’re thrilled to have such experienced investors with deep food tech expertise on board. This funding will allow us to scale our production to pilot-scale and bring our clean-label products closer to consumers.”

Milo Runkle, Co-founder and General Partner at Joyful Ventures, who will join Adamo Foods’ Board, added, “Adamo Foods represents the future of alternative protein companies. We are excited to support the team in scaling their sustainable and healthy protein alternatives.”
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Redefining Meat: Mycelium’s Answer to Sustainability‍

Traditional meat production is a significant drain on resources and a major contributor to global greenhouse gas emissions. While plant-based alternatives offer a more sustainable choice, many options  loaded with processed ingredients, making them less healthy.

Adamo’s unique mycelium-based steaks address this challenge. Using a proprietary fermentation process, Adamo produces long, densely packed fibers of mycelium that closely replicate the muscle structure of whole-cut meat. This results in a tender, flavorful experience without the plant off-notes or artificial binders found in other products, making them a healthier and cleaner option. The steaks are nutritionally superior—high in protein and fiber, with zero cholesterol—delivering all the taste and texture of real meat without the environmental impact.

Demand Grows: Consumers Seek Better, Cleaner Meat Alternatives‍

Despite economic challenges faced by some UK brands, demand for plant-based products remains strong across Europe, especially in Germany, which is experiencing double-digit growth. Surveys show that 81% of consumers are concerned about ultra-processed foods and are seeking tastier, more authentic products with clean labels.

Mycoprotein, the base of Adamo’s steaks, is emerging as a standout alternative, with its market expected to nearly double to $1.1 billion by 2030. The fermentation sector, which includes mycoprotein production, is also expanding, with a 12% rise in companies focusing on alternative proteins. As consumers increasingly seek sustainably sourced proteins, innovations like Adamo’s steaks that replicate the taste and texture of traditional meats are becoming more appealing.

Adamo Foods’ innovation has not gone unnoticed; the company has also been listed among the “Top 10 European Food Tech Companies to Watch in 2024” by Tech.eu, further solidifying its reputation as a leader in the alternative protein space.

The Steaks Everyone’s Talking About‍

As Adamo Foods prepares for its first product launch in the UK, followed by a broader rollout across Europe, their innovative approach is already gaining recognition. By focusing on transparency and natural ingredients, Adamo is carving out a unique position in the whole-cut meat alternatives market—a sector that has long lacked innovation despite whole-cuts making up 85% of real meat consumption globally.

Pioneers of Tomorrow: Adamo Foods’ Impact on the Future

Adamo Foods is ready to revolutionize the alternative protein landscape with a strategy that blends premium quality with innovation. They’ll debut their mycelium-based steaks in high-end steakhouses, generating buzz among chefs and food enthusiasts. This approach will help build brand recognition and excitement, setting the stage for a broader retail launch.

With a clear focus on sustainability and natural ingredients, Adamo Foods is set to transform the way we think about and consume meat alternatives, offering a delicious and environmentally friendly option for the future.