# Hyfé Foods

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/hyfe-foods

- Industry: Environmental Services
- Headquarters: Chicago, US
- Website: www.hyfefoods.com
- Total disclosed funding: $9M
- Latest round: Seed (Jun 8, 2023)
- Investors on record: 7

## About

Based in Illinois, US, and founded in 2021 by CTO Andrea Schoen, and CEO Michelle Ruiz, Hyfé Foods, Inc., a.k.a. Hyfé operates as a biomanufacturing firm that produces ingredients by leveraging fungal fermentation to upcycle water byproducts from food manufacturers. In June 2023, Hyfé Foods, Inc. raised USD 11 million in seed funding led by Synthesis Capital, with participation from Alumni Ventures Group, Overwater Ventures, Refactor Capital, XFactor Ventures, Supply Change Capital, and The Engine. The seed funding values Hyfé Foods, Inc. at USD 23.64 million post-money.

The company provides wastewater-to-feedstock technology that processes nutrient building blocks from wastewater into feedstocks for bioprocesses, enabling water reuse and minimizing the cost of wastewater and water management at food manufacturing facilities.

Hyfé plans to use its proceeds from June 2023 funding to expand its manpower, develop its commercial partnership, and develop its pilot-scale technology.

## Funding rounds

- Seed, Jun 8, 2023, $9M — Alumni Ventures Group, Refactor Capital, Engine Ventures, XFactor Ventures, Supply Change Capital, Synthesis Capital, Overwater Ventures

## Investors

- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Seed
- Refactor Capital (https://capitalatlas.ai/funds/refactor-capital) — Seed
- Engine Ventures (https://capitalatlas.ai/funds/engine-ventures) — Seed
- XFactor Ventures (https://capitalatlas.ai/funds/xfactor-ventures) — Seed
- Supply Change Capital (https://capitalatlas.ai/funds/supply-change-capital) — Seed
- Synthesis Capital — Seed
- Overwater Ventures (https://capitalatlas.ai/funds/overwater-ventures) — Seed