Lupines inspire plant lovers because of their splendid flowers, but at the same time they are considered poisonous. But not every lupin species produces the poisonous substance lupinin. The lupin seed can even be a valuable food ingredient. It looks like a legume, but does not become mealy when cooked, but retains its firm consistency. The start-up company Polupin GmbH in Grimmen in Mecklenburg-Western Pomerania uses the favourable nutritional properties of the lupin seed. This article is based on the unique List of the 200 most important venture capital investors in Germany.
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Fresh money from bio-economy funds with EIB background
Founded in 2010 as a spin-off of the Freising-based Fraunhofer Institute for Process Engineering and Packaging (IVV), the company specializes in extracting protein from sweet lupine as lupine protein isolate – as a raw material for vegan food production. The process is unique and patented. The protein obtained is used to produce vegan alternatives to dairy products – milk, yoghurt, ice cream and cream cheese. These are marketed under the “Made with LUVE” brand. Prolupin has now been able to secure funds from the newly established European Circular Bioeconomy Funds (ECBF) to further expand its business. Prolupin is a so-called late stage start-up, which has already successfully entered the market and is looking to grow further.
The ECBF is the first venture fund focusing exclusively on the bio-economy. The fund, which is based in the Bad Godesberg district of Bonn, began its work on 1 October 2020. It is mainly supported by the European Investment Bank (EIB) and is a building block in the “Green Deal” of the EU Commission. In the final stage, the ECBF is to comprise 250 million euros. The Prolupin commitment and a further financing with an added volume of 82 million euros are the first two projects of the fund
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