COMPANY PROFILE

MycoWorks

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A biotech company that delivers commercially viable, non-plastic and non-animal materials to the market

Emeryville, United StatesFounded 2013Biotech & Life Sciences

Valuation $500M–1B Last recorded · 2022

Headcount 100–500 Current team size

Total funding $100–500M Disclosed equity funding

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About MycoWorks

MycoWorks is a cutting-edge startup that operates in the sustainable materials market, specifically focusing on the production of a leather alternative called Reishi™. This innovative material is derived from mycelium, a component of fungus, and is being hailed as a game-changer in the fashion industry due to its sustainability and performance attributes.

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The company's business model revolves around the production and sale of Reishi™ to fashion brands and designers looking for eco-friendly alternatives to traditional leather. Their products have already been incorporated into luxury items such as the Poppies Octagon Clutch by Blumera and hats by Nick Fouquet.

MycoWorks has recently celebrated its ten-year anniversary and has shown significant growth and potential. The company has opened a 136,000 square foot facility in South Carolina, the world's first commercial-scale Fine Mycelium™ plant, to scale up the production of Reishi™. This expansion indicates the company's commitment to meeting the growing demand for sustainable materials in the fashion industry.

The company operates in a lucrative market, with the leather goods market valued at over $400 billion in 2021 and projected to surpass $720 billion by 2030. If MycoWorks continues to scale up, it has the potential to capture a significant share of this market with its unique and sustainable product.

In summary, MycoWorks is a promising startup that is revolutionizing the fashion industry with its sustainable leather alternative, Reishi™. The company's recent expansion and the growing demand for eco-friendly materials suggest a bright future for this innovative firm.

Source: Dealroom company data

At a glance

Status: Acquired
Founded: 2013
Headquarters: Emeryville, United States
Employees: 129
Open positions: None listed
Dealroom signal: 63.4/100
Industry: Health, Fashion
Sub-industry: BioTechnology
Sector: Biotech & Life Sciences, Biotechnology, Biomaterials, Synthetic Biology, Sustainable Development Goals, Mycelium Technology, Industrial Technology, Advanced Materials, Climate Tech, Circular Economy, Woman Founder
Business model: Manufacturing
Links: Website LinkedIn X

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Funding history

9 recorded events

Company financing events and reported valuations.

Deal type	Date	Amount	Valuation	Investors	Source
BUYOUTOther financing	Feb 2026	$0	—	DFX Corporation	↗
LATE VCOther financing	Oct 2022	$0	—	GM Ventures	↗

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Growth signals

MycoWorks website traffic

Latest recorded traffic for MycoWorks is 18K monthly website visits, down 28% over the last three months. MycoWorks's team declined 28.3% over the past year.

Latest monthly visits18K 3-month web change-28% 1-year team growth-28.3%

Monthly website visitsOct 2017–Jul 2026

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Company	Headquarters	Status	Employees	Total funding	Valuation
ECEcovativeMycelium-based materials for packaging, textiles, and food.	Town of Colonie, United States	Operational	58	$157M	$300M
KLKeel LabsKeel Labs (Formerly AlgiKnit) creates eco-conscious, renewable yarns for the circular economy	Morrisville, United States	Operational
BTBolt ThreadsMaterials company that invents and scales materials that put the planet on a path towards a better future	Berkeley, United States	Operational
MYMycocycleMycocycle's goal is for a closed loop supply chain converting waste into non-toxic viable materials	Bolingbrook, United States	Operational
MSModern SynthesisMicrobially-derived biomaterials for the fashion industry	London, United Kingdom	Operational
POPolybionGrowing premium, next-generation materials designed with nature and manufactured with biology	Irapuato, Mexico	Operational
NFNEFFA \| New Fashion FactoryNEFFA \| New Fashion Factory is the most innovative and sustainable automated manufacturing method allowing for custom-fit textile products made from biomaterials	Amersfoort, Netherlands	Operational
MMModern MeadowProvides biofabricated leather materials intended to offer animal-free leather made from living cells	Nutley, United States	Operational