Friday, September 25, 2020

MycoTechnology raises $39m to scale up and expand

MycoTechnology, a Colorado food tech company using mushrooms to transform the food industry, has raised $39 million in series D financing.

The latest financing round – co-led by Greenleaf Foods, SPC, S2G Ventures, and Evolution Partners – brings its total funding to over $120 million, maming it one of the most valued food tech start-ups in the world.

The round, which also included participation from Tyson Ventures and Kellogg’s eighteen94 Capital investment arm, among others, was complete during the pandemic, demonstrating investor confidence in the company.

The funds will be used to prepare for new product innovations.

“We do not innovate for the sake of innovating. We create products that solve the biggest challenges in the food industry, like creating great tasting products without excessive sugar, salt, or fat and doing so in a more sustainable way,” said Alan Hahn, CEO of MycoTechnology.

“I believe this is what attracted our investors to look closely at our company, and when they saw the many ways that mushroom fermentation can truly transform the food industry for the better, they decided to invest, even during challenging times.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

Olam achieves 100% traceability across direct cocoa supply chain

Olam Cocoa has achieved 100% traceability across its direct global cocoa supply chain. The milestone is the first of many intended to achieve a sustainable...

Cranswick achieve food waste reduction target a decade early

Cranswick has achieved a 61% reduction in food waste a decade earlier than planned, eclipsing the international reduction target. The UK food producer has surpassed...

Europe’s first dedicated plant-based event hits London next year

With the rise in meat-free proteins, Europe’s first dedicated plant-based event will launch in London next year. Following a series of successful events in the...

Lab Innovations postponed to 2021

Lab Innovations, which was due to take place on 4 & 5 November at the NEC, Birmingham, has been postponed until next year in...

Innovia Films launch new carbon neutral label film

Innovia Films is launching Encore C45cn, the first carbon neutral BOPP label film. Encore C45cn is ISCC certified and will contribute to reducing carbon...

New barcode validation solution from Toshiba Tec

Print solutions specialist Toshiba Tec has launched ScanSure, a flexible verification-based validation solution for barcodes. Aimed at manufacturing companies, especially those in the food and...

Related news

Olam achieves 100% traceability across direct cocoa supply chain

Olam Cocoa has achieved 100% traceability across its direct global cocoa supply chain. The milestone is the first of many intended to achieve a sustainable...

Cranswick achieve food waste reduction target a decade early

Cranswick has achieved a 61% reduction in food waste a decade earlier than planned, eclipsing the international reduction target. The UK food producer has surpassed...

Europe’s first dedicated plant-based event hits London next year

With the rise in meat-free proteins, Europe’s first dedicated plant-based event will launch in London next year. Following a series of successful events in the...

Lab Innovations postponed to 2021

Lab Innovations, which was due to take place on 4 & 5 November at the NEC, Birmingham, has been postponed until next year in...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close