Green Queen Media and Anay Mridul covered our recent funding news - in this article (no paywall) #Ecovative and MyFOREST Foods CEO and cofounder, Eben Bayer, deep dives into what sets #MyBacon up for success. 💚 🍄 🥓 https://lnkd.in/eZ7kru_c
🍄🥓 ECOVATIVE BAGS $11M TO SCALE MYBACON AND LAUNCH WHOLE-CUT MYCELIUM MEAT Mycelium innovator Ecovative - the mycelium technology company has raised $11M in new funding to fuel the “explosive growth” of MyBacon, the mycelium-based meat alternative sold under its spinout company, MyFOREST Foods . The round was largely led by existing investors, alongside a $1.7M grant and loan from the Advance Albany County Alliance, and will specifically support the “ongoing scale-up of our MyBacon production”, Ecovative founder and CEO Eben Bayer tells Green Queen. The company has now attracted $156M in investment since 2019, and of this, $82M has been raised into MyForest Foods. This latest capital injection will help the firm expand the production capacity of MyBacon, hire new staff, launch a whole-cut mycelium product, and enter the foodservice channel. “Every dollar is focused on scaling the business and bringing more high-performance mycelium products to market,” says Bayer. He notes that Ecovative is creating a “whole new protein category” with AirMycelium, its proprietary tech that grows mushrooms on an industrial scale in vertical farms, allowing it to produce three million sq ft of material annually on one acre of land. The different strains of mushrooms are used for a variety of applications, including sustainable alternatives to plastic and leather, sold under its various sub-brands Forager, Mushroom® Packaging and Grow.bio. Read the full article here: https://lnkd.in/esXPFcvw #GreenQueen #altprotein #futurefood #mycelium #innovation #foodtech #sustainability #foodsystems