Kinoko-Tech, an Israeli food-tech startup specialising in fungi-based fermentation, has entered into a strategic commercial agreement with Metaphor Foods, an accelerator and investment company, to locally produce thousands of tons of sustainable, protein-rich products in Australia.
This collaboration sets the stage for expansion into Malaysia, Singapore, Indonesia, and New Zealand, with production set to commence in 2025, the firms said in a news release.
The agreement encompasses the production and sale of a variety of food products, including “centre of the plate” items that aim to provide nutritious alternatives to existing vegetarian and vegan options.
“We’re excited to partner with Metaphor Foods and bring our technology to new markets,” said Jasmin Ravid, CEO of Kinoko-Tech.
He continued, “This partnership marks a significant milestone in scaling up our production and making a meaningful impact on global food sustainability. With Metaphor Foods and Hela APAC’s expertise, we’re well-positioned to expand our reach across the APAC region.”
Kinoko-Tech offerings will be showcased through a range of snack items such as muesli and nut bars, protein bars, and crispy chips.
Kinoko-Tech’s cutting-edge technology, licensed from Yissum, the tech transfer company of the Hebrew University of Jerusalem, utilises fungi mycelium to grow on legumes and grains. This results in healthy, natural foods with significantly enhanced nutritional profiles.
Under the agreement, Metaphor Foods, the innovation arm of Hela APAC, will oversee the rollout of Kinoko-Tech’s products throughout the Asia-Pacific region.
Hela APAC is dedicated to delivering cutting-edge food technology and flavors, with a global presence that spans ten manufacturing sites and representation in over 70 countries.
The initial focus will be on local production in Australia, followed by plans for expansion into Malaysia, Singapore, Indonesia, and New Zealand.
Geoff Gordon, director of Metaphor Foods and Hela APAC, shared his enthusiasm for the collaboration: “At Metaphor Foods, our role is to facilitate transformational food tech startups like Kinoko-Tech, enabling them to make a global impact.”
He continued, “We’re thrilled to be part of their journey, starting in Australia and soon expanding to other key markets in Asia and New Zealand. Kinoko-Tech’s technology is truly a game-changer in the food industry.”
