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Poised to Lead ‘New Materials Revolution’

Biotechnology innovator MycoWorks — known in the fashion world for its Reishi™ material and collaborations with Hermès — announced $125 million in Series C financing Thursday.

Investors include Prime Movers Lab, SK Capitol Partners, Mirabaud Lifestyle Impact and Innovation Fund, in addition to other new and existing investors with track records in the biotech space. The funding will go towards the scale out of the firm’s production plant in Union, South Carolina to meet growing demand for its coveted material alternatives.

“This opportunity is massive, and we believe that unrivaled product quality combined with a proprietary, scalable manufacturing process has MycoWorks poised to serve as the backbone of the new materials revolution.” – David Siminoff, General Partner at Prime Movers Lab.

Read the full article by Kaley Roshitsh on WWD