— Press Announcement
Scaling Production for Reishi
MycoWorks Raises $17M Series A
Last month, we presented our first product—Reishi™ Fine Mycelium™—to the world at New York Fashion Week. After years of perfecting Reishi alongside our brand partners, we were excited to invite the fashion world to experience it in person at our Nolita showroom, and to invite some of the art, fashion and media industries’ most notable influencers to a private dinner and conversation. The response was overwhelming: it’s clear that the fashion world is clamoring for sustainable, natural options for leather that do not compromise on performance, quality or aesthetics.
To meet this growing demand, we’re proud to announce that MycoWorks has raised $17 million in Series A financing to help us bring Reishi to market. The round was led by DCVC Bio, with major participation from Novo Holdings and 8VC, as well as Future Tech Lab, AgFunder, Susa Ventures, Cthulhu Ventures, and Wireframe Ventures.
“MycoWorks meets the aspirations of luxury leather and meets the criteria for the new green economy. Large global luxury brands are lining up to bring Reishi products to market.” – Kiersten Stead, Managing Partner at DCVC Bio
We’re excited for the debut of our first brand partnerships in the coming months.
Read the full press release here.