MycoWorks lands $125M Series C funding

In South Carolina, MycoWorks announced a $125 million Series C funding round led by Prime Movers Lab, with participation from new investors SK Networks and Mirabaud Lifestyle Impact & Innovation Fund, in addition to other new and existing investors including DCVC Bio, Novo Holdings, and others. 

The Series C funding round will be used to launch the first full-scale Fine Mycelium™ production plant to meet the growing demand for the company’s materials, including MycoWorks’ flagship product, Reishi™.

MycoWorks’ patented Fine Mycelium process produces natural material with the performance of the finest animal leathers and lower environmental impact. It is a proprietary biotechnology platform that engineers mycelium to grow the only made-to-order, made-to-specification luxury material. Recognized globally as a breakthrough in materials science, Fine Mycelium materials offer superior hand feel, durability, and aesthetics. The process also unlocks new design possibilities for fashion and luxury brands, while its predictable, scalable tray-based process offers much-needed relief to supply chain constraints.