Mushroom pioneer MycoTechnology secures $6.7m investment

Mushroom pioneer MycoTechnology secures $6.7m investment

MycoTechnology – which has developed a pioneering new food processing platform using mushroom roots (mycelium) – has secured $6.7m in a Series A round of financing, with a second round expected to close before the end of the year.

The investment round - led by S2G Ventures with participation from Middleland Capital and Seventure Partners - will help the Denver-based firm expand its R&D, operations and sales teams and accelerate adoption of its technology, said founder and CEO Alan Hahn.

“We are only in the early days of understanding all the different ways mushrooms can improve the foods we eat every day. We are constantly finding new ways that they can solve some of the biggest challenges faced by the food and beverage industry.”

MycoTechnology’s ‘myceliation’ process – by which the mushroom mycelium can remove unwanted compounds and infuse agricultural raw materials with 1-3 1-6 beta glucans and a highly digestible protein - can create smoother (less bitter) coffee; chocolate that tastes great with no added sugar; stevia with no bitter aftertaste; and wheat minus virtually all of its gluten.   

The firm, which recently struck a deal with sweetener company U.S. Niutang to use the MycoZyme process to remove the bitter metallic aftertaste in its NiuVia stevia product, is also talking to companies in the coffee, chocolate, and bakery categories.  

Read more about MycoTechnology HERE and HERE and watch our interview with MycoTech CEO Alan Hahn at the IFT show below:

Related News

MycoTechnology brings in $9m for mushroom tech platform

MycoTech brings in another $9 million based in part on promise of mushroom platform to smooth stevia's taste

Picture: istockphoto-studio-grand-quest

Step aside peas, rice and algae.. there's a new protein in town, from Shiitake mushrooms...

Soup-To-Nuts Podcast: The opportunity for medicinal mushrooms

Soup-To-Nuts Podcast: The rising opportunity for mushrooms in food and beverage

MycoTechnology to bring sugar-reducing mushroom extract to Europe with EFSA application

MycoTechnology to bring sugar-reducing mushroom extract to Europe with EFSA application

Mushrooms to transform nutritional profile of grains, MycoTechnology

Mushroom mycelium could breathe new life into declining cereals category, claims MycoTechnology

Alan Hahn, CEO, MycoTechnology: 'We noticed it right away... the gluten was gone'

Could mushroom mycelium add a new dimension to the gluten-free market?

MycoTechnology: "We’re only just starting to discover all the amazing things mushrooms can do.”

Myceliation: A mushroom-fueled process with game-changing food industry applications?

MycoTechnology launched its latest innovation—MycoSmooth tea, a beta glucan-enhanced fermented green tea—at Expo West

Blue Pacific, MycoTechnology ink partnership deal

Related Products

See more related products

Submit a comment

Your comment has been saved

Post a comment

Please note that any information that you supply is protected by our Privacy and Cookie Policy. Access to all documents and request for further information are available to all users at no costs, In order to provide you with this free service, William Reed Business Media SAS does share your information with companies that have content on this site. When you access a document or request further information from this site, your information maybe shared with the owners of that document or information.