MycoTechnology, an Aurora, Colo.-based food technology company, closed a $35M Series B round of financing.
The round was led by S2G Capital with co-leads Bunge Ventures Ltd., and Emerson Collective and participation from Health For Life Capital / Seventure Partners, Middleland Capital, Tao Capital Partners, Eighteen94 Capital, Continental Grain, GreatPoint Ventures, Closed Loop Capital and Windy City, LLC.
Founded in 2013 by Alan Hahn, CEO, MycoTechnology is an organic food technology company that uses mushrooms to create novel functional ingredients. Their first product, ClearTaste, is a certified organic bitter blocker, which enables companies to reduce the sugar content in their products. After the commercialization of ClearTaste, MycoTechnology is now taking other challenges faced by the protein industry.
To this end, the company intends to use the funds to build a commercial production facility in Aurora, Colorado for PureTaste, a digestible, non-GMO, vegan mushroom protein that is low in calories, fat and carbohydrates but loaded with vitamins and minerals.
The commercial facility will initially be able to produce 4,000 metric tons of PureTaste per year.