Boston’s Lasso Secures $6.5 Million in Funding for Fiber Spinning Technology Expansion

Boston-based startup Tender Food has undergone a significant rebranding, emerging as Lasso, backed by a new funding round of $6.5 million. The company aims to extend its proprietary fiber spinning technology, dubbed “Lasso SpinTech,” beyond the alternative meat industry into diverse categories, ranging from fruit snacks to pet food.

Funding and Investment Landscape

This funding round was spearheaded by Rhapsody Venture Partners with participation from Safar Partners, Claridge Venture Partners, and others. This investment comes on the heels of an $11.5 million Series A round announced in summer 2024. The recent financing will facilitate Lasso in launching its own brands leveraging this innovative technology while also licensing it to partners.

Inception of Lasso SpinTech

Lasso SpinTech, developed by a team at Harvard University’s Wyss Institute, is a cutting-edge technology utilizing centrifugal force to transform food ingredients into fibrous materials, producing a unique texture. The device has been compared to an “advanced cotton candy machine” due to its innovative design and functionality.

Operational Efficiency

According to CEO Mike Messersmith, who took the lead at Lasso last year, the machine is roughly the size of a washing machine but boasts a lower energy consumption than a toaster oven. “The commercial scale system can produce about 1,000 pounds of finished product per hour, translating to over 1.5 million pounds annually, equivalent to more than 12 million protein bars,” he shared.

Expanding Beyond Alternative Meats

Over the last year, Lasso has experimented with prototypes for various applications in snacks, bars, confectionery, and pet food. Messersmith, who noted the alternative meat sector has not achieved the growth anticipated, emphasized the shift in focus. “Going from a single application to a technology platform company with multi-category applications is essential,” he said.

Identifying Market Needs

“The alt meat category has faced challenges, particularly in the U.S.,” he explained. “This has prompted us to explore broader applications for our technology.” Messersmith acknowledged the initial hype around plant-based meat in 2020 and the subsequent gaps that have emerged, especially concerning processing and ingredient efficiency.

Innovative Snack Options

Lasso’s technology can handle both animal and plant-based proteins, along with various raw materials such as fruits and vegetables. Messersmith highlighted the potential for creating nutritious snacks without added binders, gums, or sugars. “We envision products where fruits are the primary ingredient, woven together with protein and fiber using our technology,” he stated.

The Consumer Products Strategy

While Lasso will pursue a B2B tech licensing strategy, the company also plans to introduce its own consumer products. Messersmith expressed the importance of market visibility, stating, “Seeing the product in market helps gather crucial consumer feedback and elevates urgency among potential partners.”

He elaborated on the benefits of launching focused, smaller-scale brands: “2025 offers unique opportunities for targeted brand launches, encompassing online sales, Amazon, and even brick-and-mortar distribution.” This will demonstrate the practical impact of their technology, encouraging partnerships with established brands.

Future Directions

Messersmith acknowledged the complexities associated with combining B2B and B2C strategies but believes in the potential of targeted market launches to propel B2B partnerships. “The goal is to streamline the decision-making process for partners by showcasing our innovations in real-world scenarios,” he remarked.

Looking ahead, he outlined plans for focused market launches primarily in snacking and teased upcoming licensing announcements. “We aim to accelerate our growth and establish Lasso as a frontrunner in the food technology arena,” he concluded.