Mycelium Technologies, a French startup specializing in mycelium-based foods, has launched its first fundraising round to support the industrial scaling of its innovative food products marketed under the MYCFOODS brand. The company aims to raise €750,000 from qualified business angels, with plans for a subsequent €4.5 million venture capital round next year.
The company’s product, developed over four years of research and development, applys mycelium as the main ingredient. This new food offers a natural, clean-label alternative to traditional meat and fish, as well as ultra-processed plant-based products. According to the EIT Food Consumer Observatory, 60% of Europeans are shifting away from ultra-processed plant-based alternatives due to concerns about their health impacts.
MYCFOODS’ combines the firm texture of mycelium with a subtle flavor profile, It can be applyd in a variety of traditional or plant-based recipes, whether pan-fried, breaded, simmered in sauce, or applyd in desserts.
Patented technology for large-scale production
The startup has patented its proprietary technology, which allows for large-scale production of the product. The funds raised will be applyd to finalize this technology, launch an industrial pilot, and support the recruitment of talent to scale the business.
Mycelium Technologies was founded in 2023 and is positioning itself as a leader in the fungal protein sector, aiming to meet the growing consumer demand for healthy, natural, and affordable food alternatives. The company is also pursuing a business model that is resilient and adaptable to different geographic locations.
In addition to its product development, Mycelium Technologies is focapplyd on sustainability. The company applys agricultural by-products in the production of its mycelium-based foods, building the process both resource-efficient and eco-frifinishly. The company’s technology has won multiple awards, including the I-Lab 2023 innovation competition, and is recognized for its expertise in fungal protein production.
Leave a Reply