MyForest Foods, a New York-based food technology company, raised $15M in Series A funding.
The round was led by MyForest Foods’ parent company, Ecovative Design.
The company intends to use the funds to bring its product, MyBacon, to more consumers across the Eastern Seaboard, including New York City.
Led by newly appointed CEO Greg Shewchuk, MyForest Foods is a food technology company spun out of Ecovative in 2020. Its proprietary platform uses a natural super-ingredient called mycelium to grow nutrient-rich fibers that replicate the textures and mouthfeel of meat. MyForest Foods is currently selling its mycelium-based meatless bacon product, MyBacon, in 100+ New York and New England retailers with more widespread availability expected later in 2023.
Eben Bayer, the company’s co-founder and former CEO, will remain Chairman of the Board and continue to support the team’s continued operational expansion. He will remain CEO of Ecovative, which continues developing and scaling uniquely enabled mycelium products to meet everyday needs.
FinSMEs
06/06/2023