cusp

A $58M round for this European Mycelium startup shows the tech is on the cusp of big thingsInfinite Roots (IR), formerly Mushlabs, is a German biotech company which has been plying the furrow of Mycelium, the material coming from fungi which has been hailed as something of an answer to everything from food to building materials. Existing investors, including Clay Capital, FoodLabs, Redalpine, Simon Capital and Happiness Capital also participated. Prior to this round IR had raised a Series A of $10 million. The company said it plans to use the new round to switch into commercial growth, expand its production capacities, and invest in launch activities. For instance, last year Meati Foods moved into full-scale production of its mycelium-based whole-food protein, launching a “Mega Ranch,” in Colorado financed in part by a $150 million Series C round and an extension round of $22 million.

A $58M round for this European Mycelium startup shows the tech is on the cusp of big thingsInfinite Roots (IR), formerly Mushlabs, is a German biotech company which has been plying the furrow of Mycelium, the material coming from fungi which has been hailed as something of an answer to everything from food to building materials. Existing investors, including Clay Capital, FoodLabs, Redalpine, Simon Capital and Happiness Capital also participated. Prior to this round IR had raised a Series A of $10 million. The company said it plans to use the new round to switch into commercial growth, expand its production capacities, and invest in launch activities. For instance, last year Meati Foods moved into full-scale production of its mycelium-based whole-food protein, launching a “Mega Ranch,” in Colorado financed in part by a $150 million Series C round and an extension round of $22 million.