MycoTechnology Closes Second Funding Round

MycoTechnology, Inc., an Aurora, Colorado-based developer of an all-natural bio-process to improve the taste of foods, closed a second round of funding.

The amount of the investment and backers were not disclosed.

Founded in March of 2013 and led by Alan Hahn, CEO, and Peter Lubar, COO, MycoTechnology aims to develop a proprietary, all-natural bio-process to improve the taste of target foods and to make them healthier. The company’s process utilizes the ability of mushrooms to selectively consume bitter compounds in foods, resulting in better tasting products.
The first process developed by the company, named ReishiSmoothâ„¢, uses healthy Reishi mushrooms to improve the taste of coffee.

The company now intends to use the funds to bring on more scientists to move the process into other targeted foods, as well as ramp up supporting departments such as accounting and sales.

FinSMEs

19/02/2014

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