Fungi tech startups are growing on investors

fungi tech startups

Fungi startups are proving a tasty prospect for investors, not only in novel food tech, but also due to promising applications in textiles, packaging, interior design and biomass energy production.

Startups tapping into fungi’s pliable applications cover at least 10 out of 17 United Nations Sustainable Development Goals (SDGs), making it one of the most versatile resources to use across different sectors and segments; including foodtech, healthtech and more.

The number of tech startups working with fungi has climbed from 32 in 2015 to more than 80 in 2021, and VCs are taking note as funding into this space has jumped from €39M in 2015 to €1.5B in 2022.

Some notable companies:

  • Ecovative, a New York-based startup that specializes in mycelium packaging to replace plastics and wood.
  • In Europe, Mogu develops mycelium material for design that make wall panels and flooring as well as alt-protein, dubbed “mycoprotein.”
  • Bolt Threads, a producer of clothing fabric and beauty products utilizing mycelium. Made headlines in 2017 after launching their Microsilk™ fiber as part of a collaboration with Stella McCartney x MoMA.

At Dealroom.co, we’ve collaborated with Progress Tech Transfer Fund to map 80+ startups developing and innovating mycelium technology. Access the full landscape by clicking here.

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