Swedish startup Millow raises €2M to grow meat alternatives on oats with mycelium

What Happened

Millow's solid-state fermentation process grows mycelium directly on Swedish oats to create a whole-cut meat alternative with 27g of complete protein per 100g, using just 3-4 liters of water per kilogram — a 98% smaller footprint than Swedish beef. The startup, which holds a European patent on its low-water fermentation method, will use the funding to launch in Nordic foodservice kitchens.

Why It Matters

3-4 liters of water per kilogram versus conventional beef's is a 98% cut — water footprint is one of the few sustainability metrics that translates directly into a defensible marketing and regulatory story.

98% less water than Swedish beef, grown on oats already in the supply chain.

FET's Takeaway

27g of complete protein per 100g from solid-state fermentation on oats is a genuinely strong number; the real test will be whether the mycelium binds into a true whole-cut structure at foodservice scale, or needs the same binder workarounds as everything else in this category.