Danish mycelium food company Tempty Foods has hit 100% of its crowdfunding target on Republic Europe, raising €356,538 from 107 investors against an initial goal of €355,036, with 26 days still remaining on the campaign. The company has since raised the funding ceiling to allow further participation.
The campaign opened to pre-registered participants before going public, reaching 85% of its target within the first 24 hours of the private phase. Following the breach of its initial goal, Tempty wrote: “We are blown away. We reached our initial goal way faster than we expected… Because of this incredible momentum, we have decided to increase our target.”
The round is structured as equity, with 10.09% of the company offered at a share price of €65.30, based on a pre-money valuation of €3.2 million. Entry starts from €20, a threshold the company set deliberately to open participation beyond institutional and angel backers.
Background and traction
The crowdfunding follows a 5.2 million DKK (approximately US$750,000) seed round closed in March, which was backed by existing investors, new angel networks, and public financing via an EIFO MatchLoan.
Founded in 2021 as a spin-out from the Technical University of Denmark, Tempty has served more than 250,000 meals through retail and foodservice channels including 7-Eleven Denmark and Coop, and reports 100% year-on-year revenue growth since its 2023 commercial launch. The company operates an asset-light model and is targeting expansion across the Nordics.
“We’ve gone from a dream at DTU to serving over 250,000 meals in places like 7-Eleven, canteens and restaurants. Now, we are ready to take Tempty across borders, and we want you to be the ones who own this future with us,” the company stated at the campaign’s public launch.
Mycoprotein sector gaining ground in Europe
Tempty positions mycelium not as a meat alternative but as the foundation for a distinct clean-label food category. The company operates in a space seeing increased commercial activity across Europe.
The Republic Europe campaign remains open, with the final total to be confirmed at close.
