Ecovative, a Green Island, NY-based mycelium technology company, raised $60M in Series D funding round.
The round, which brings Ecovative’s total capital raised to $100M, was led by Viking Global Investors, with participation from Senator Investment Group, AiiM Partners, Trousdale Ventures and other investors. In addition to the new funding, Ecovative also announced today that Steve Sherwood, Chairman of CWS Capital Partners, will be joining the company’s board.
The company intends to use the funds to power its next-generation Mycelium Foundry and boost production.
Led by Eben Bayer, CEO and Co-Founder, Ecovative is a materials science company focusing on unlocking the natural potential of mycelium with modern technology. Founded in 2007, Ecovative’s mission is to create next generation materials through mycelium biofabrication and to make mycelium materials accessible to everyone. Leveraging its Mycelium Foundry, the company works with partners throughout the textiles, food and packaging industries to grow materials for everyday needs.
Ecovative developed its AirMycelium™ manufacturing platform to produce mycelium at industrial scale, and recently activated 100,000 pounds per year of new manufacturing capacity to support growing demand from partners, ranging from packaging suppliers to tanneries, for custom mycelium solutions.