‘Shrooms galore: Food tech biz MycoTechnology raises $9.2 mln

MycoTechnology, a food tech company that uses mushrooms to improve flavor, raised $9.2 million in Series A funding. Three venture capital firm participated in the funding: S2G (Seed 2 Growth) Ventures, Seventure Partners and Middleland Capital.

Press Release

MycoTechnology, an innovative natural food technology company that uses mushrooms to improve the taste of everyday food and drinks announced the first close of its Series A round on $9.2 million. The round involved participation from three venture capital firms: S2G (Seed 2 Growth) Ventures, Paris-based Seventure Partners, and Middleland Capital.

MycoTechnology products and services rest on a foundation of solid science and rely on third-party, independent scientific research to support the development and delivery of its processes and claims. MycoTechnology tapped Brunswick Laboratories to help provide this foundation.

“Just about everything we do rests on the credibility of the science that underlies our offerings,” said Alan Hahn, CEO and Founder of MycoTechnology. “Our investment partners know this and the strength of the science delivered by Brunswick Labs has continued to establish this to our scientists, our customers, and in this case our investors.”

“More and more demands are being made by all constituents that the science be there,” said Dr. Jin Ji, CTO and EVP of Brunswick Laboratories. “Our approach is especially rigorous in order to meet these increasing demands. We are very pleased to be a part of helping MycoTechnology continue its success.”

MycoTech will use the proceeds of the Series A to expand the team and building a new facility with the aim of moving in early 2017. The business is expanding rapidly with plans to nearly double its head count over the next several months, according to Hahn.

Brunswick Labs, Inc., headquartered in Southborough, MA, is an independent bioanalytical and research laboratory providing preclinical and clinical testing and study of antioxidant and phytonutrient function in oxidative stress reduction, anti-inflammatory, and diabetes and weight management for the food and nutrition, pharmaceutical, and cosmetic industries. More information can be found at www.brunswicklabs.com or call +1-508-281-6660.

MycoTechnology, Inc., headquartered in Aurora, CO, is a Food Technology Company using its proprietary gourmet mushrooms to transform agricultural products, proven successful on coffee, chocolate, tea, wheat and stevia. The goal is to improve the taste, value and nutritional characteristics of these foods through their natural technology. More information can be found at www.mycotechcorp.com or call +1-303-578-9648.