The government-owned Scottish Investment Bank has returned to pour more funding into Strathclyde mycoprotein spinout 3F Bio.

3F Bio, a UK-based food protein spinout from University of Strathclyde, has received £6.2m ($8.6m) in a series A round backed by the university and Scottish Investment Bank (SIB), part of government-owned development agency Scottish Enterprise.

The round also featured angel network EOS Technology Investment Syndicate, venture capital fund Data Collective as well as private investors including Nick Elmslie and unspecified members of the 3F Bio management team.

Founded in 2015, 3F Bio has developed a meat-free mycoprotein called Abunda that can be used as a vegetarian foodstuff or to complement standard meat-based ingredients. The production process is designed to discharge little waste and retain three to 15 times as much protein as conventional farming methods.

The capital will be used to develop Abunda on an industrial scale as 3F Bio seeks a foothold in the global protein market. Elmslie will join the 3F Bio board as a non-executive director.

3F Bio previously raised approximately $600,000 in a 2017 round led by EOS that featured SIB, Data Collective, the 3F Bio management and a range of private investors including Elmslie, according to Scottish Business News Network.

David McBeth, director of research & knowledge exchange services at University of Strathclyde, said: “Strathclyde is delighted to participate in this funding round for 3F Bio, which we hope will enable technology developed here to have a worldwide impact in addressing the global challenge of producing sustainable meat-free food.

“Support for, and partnership with, business and industry is central to the university’s mission and 3f Bio is perfectly aligned with our advanced manufacturing strategic theme.”