# Mushroom Material

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mushroom-material

- Industry: Forestry & Timber
- Headquarters: Auckland, New Zealand
- Website: www.mushroommaterial.com/
- Total disclosed funding: $5.1M
- Latest round: Seed (Aug 6, 2024)
- Investors on record: 5

## About

Based in New Zealand, Mushroom Material is a company focused on creating sustainable packaging solutions using mycelium and agricultural waste, providing eco-friendly options for various industries while addressing environmental issues associated with traditional materials.Founded in 2020 in Auckland, New Zealand, Mushroom Material specializes in sustainable packaging solutions. The company has completed 2 funding deals, including raising NZD 470,000 in a pre-seed round led by Icehouse Ventures, resulting in a total amount raised of NZD 470,000. The founder, Jotinder Singh, has a background that may include previous entrepreneurial ventures, although details are not specified.Mushroom Material specializes in the design and production of sustainable packaging solutions made primarily from mycelium and agricultural waste. Their core product serves as an eco-friendly alternative to traditional polystyrene, offering durability and shock absorption while being fully biodegradable and compostable. They target various industries including e-commerce and consumer goods, with products marketed in Australia, New Zealand, parts of Europe, and North America, aligning with global sustainability trends.Mushroom Material operates a B2B model, serving clients such as packaging manufacturers and retailers. Revenue is generated through direct sales and partnerships, allowing for tailored packaging solutions that meet specific client needs. Their flagship mycelium-based products are integral to their revenue strategy, catering to an increasing demand for compostable materials.Mushroom Material plans to utilize the recent funding of NZD 470,000 to support the development of new products and expand into additional markets. Specific upcoming products and their release dates are currently not disclosed, but the company aims to increase its market presence in regions beyond their current operations by the end of 2023. This funding will enhance their capacity to innovate in sustainable packaging solutions.

## Funding rounds

- Seed, Aug 6, 2024, $5.1M — Wavemaker Partners, SEEDS Capital, K1W1, Icehouse Ventures, Black Kite Capital

## Investors

- Wavemaker Partners (https://capitalatlas.ai/funds/wavemaker-partners) — Seed
- SEEDS Capital (https://capitalatlas.ai/funds/seeds-capital) — Seed
- K1W1 — Seed
- Icehouse Ventures (https://capitalatlas.ai/funds/icehouse-ventures) — Seed
- Black Kite Capital (https://capitalatlas.ai/funds/black-kite-capital) — Seed