MycoWorks

MycoWorks

A company creating sustainable design solutions with biomaterials. It was founded in 2013 and is located in San Francisco, California.

MycoWorks is a San Francisco-based biotechnology company that grows leather from mycelium and agricultural byproducts in a carbon-negative process.Its stated mission is to make new materials that have superior performance to animal-made or plastic products.

Product

The company's product is called "Reishi" and is a material made from mycelium mushrooms. It imitates leather and is used for fashion goods. It is created by coercing the mycelium plant to grow in a woven pattern, making a durable material made from the plant. The company has developed its own tanning process to prepare the material to be used for fashion goods. Only natural dyes and vegetable byproducts are used for the process of making the material. Overall, the process takes about two weeks and is done in two by three feet trays at the company's location. The company is researching ways to create the material in order to keep up with the demand for it.

Funding

MycoWorks has raised capital through various funding rounds, the latest being a Series A funding round that raised $17 million. There are ten investors involved with the company including Future Tech Lab and Novo Holdings.

Timeline

November 17, 2020

MycoWorks raises $45M in Series B Financing.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
MycoWorks Series B round November 2020
45,000,000
November 2020
2 Results
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People

Name
Role
LinkedIn

Phil Ross

Co-Founder

Sophia Wang

Co-Founder and CEO

Further reading

Title
Author
Link
Type
Date

Everything you own could one day be made from mushrooms

Melia Robinson

Web

July 14, 2016

MycoWorks Debuts Their Plastic-Free, Non-Animal Premium Leather Alternative, Reishi

David Graver

Web

February 6, 2020

Documentaries, videos and podcasts

Title
Date
Link

Mycoworks

November 24, 2016

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
AlleyWatch
November 23, 2020
AlleyWatch
The Pulse of New York Tech
FinSMEs
November 18, 2020
FinSMEs
About | Advertise | Contact | Disclaimer | News | The Daily Deal Newsletter FinSMEs.com by FinSMEs is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Jonathan Shieber
November 17, 2020
TechCrunch
Natalie Portman and John Legend are joining a group of venture capitalists and unnamed fashion brands backing MycoWorks, a company that just raised $45 million to commercialize its technology that makes a fungal-based biomaterial that can replace leather. The goal is to get consumers to trade in their leather and lizard skin couture for some [...]
MycoWorks
November 17, 2020
www.prnewswire.com:443
/PRNewswire/ -- MycoWorks announced today the closing of a $45 million Series B financing to scale up and meet demand for ReishiTM, the leading natural,...

References

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