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MycoWorks closes $125M to scale production

MycoWorks, a company making a fungal-based biomaterial that can replace leather, brought in a fresh round of funding — $125 million in Series C financing — to fund a production plant for scaling the manufacture of its flagship product Reishi.

CEO Matt Scullin says what his company is doing in terms of fabrics is different from its competitors, touting the company’s Fine Mycelium process as “a biotechnology platform that engineers mycelium to grow the only made-to-order, made-to-specification luxury material.”

“What MycoWorks has achieved with its Fine Mycelium platform is not just a breakthrough, it is a revolution for industries that are ripe for change,” – David Siminoff, general partner at Prime Movers Lab.

Read the full article by Christine Hall on TechCrunch