What is Mycoworks?
MycoWorks is a San Francisco-based private company established in 2013, dedicated to producing sustainable products and apparel through advanced material science. Its flagship product, Reishi, is a proprietary material engineered from mycelium, offering a high-performance, leather-like alternative for the fashion and luxury goods industries. By leveraging biotechnology, MycoWorks aims to disrupt conventional manufacturing processes and provide eco-conscious solutions that meet the growing demand for sustainable consumer goods.
How much funding has Mycoworks raised?
Mycoworks has raised a total of $187.3M across 4 funding rounds:
Multiple Rounds
$62.4M
Series C
$125M
Series A (2020): $17M with participation from 8VC, DCVC Bio, Wireframe Ventures, Susa Ventures, AgFunder, Novo Holdings, Future Tech Labs, and Cthulhu Ventures
Debt (2020): $350K led by PPP
Series B (2020): $45M supported by DCVC Bio, WTT Investment, John Legend, and Natalie Portman
Series C (2022): $125M featuring Prime Movers Lab, SK Networks, and Mirabaud Securities
Key Investors in Mycoworks
Prime Movers Lab
Prime Movers Lab is a venture capital firm focused on funding breakthrough scientific startups that aim to transform industries and improve lives, supporting founders with innovative ideas and a growth mentality.
SK Networks
SK Networks, established in 1953, offers global sourcing, market intelligence, and strategic networking, applying these capabilities to its global trading business centered on industrial goods.
DCVC Bio
DCVC Bio is a deep tech venture capital firm that invests in entrepreneurs tackling challenging problems, focusing on leveraging artificial intelligence across sectors like energy and biotechnology.
What's next for Mycoworks?
With the infusion of $125M in its latest funding round, MycoWorks is poised for significant scaling and market penetration. This major strategic investment, following substantial prior financing, indicates strong investor confidence in the company's technology and business model. The capital is anticipated to fuel further research and development, enhance production capabilities, and expand its global reach. MycoWorks' continued growth trajectory suggests a move towards broader commercialization and establishing its mycelium-based materials as a mainstream alternative in various industries.
See full Mycoworks company page
