# MycoTechnology Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mycotechnology - Industry: Food - Headquarters: Aurora, US - Website: www.mycoiq.com - Total disclosed funding: $145M - Latest round: Series E (Mar 30, 2022) - Investors on record: 32 ## About MycoTechnology, Inc. is a pioneer in developing innovative fungal-derived ingredient solutions, aimed at improving the flavor and health profiles of food and beverages while addressing consumer demands for cleaner labels.Founded in 2013 in Aurora, US, MycoTechnology specializes in the application of innovative fermentation technology to enhance food and beverage products. The company has conducted 15 deals, with its most recent funding round, Series E, raising USD 23.16 mn in March 2022, led by Oman Investment Authority. The leadership team includes co-founders Alan Hahn, Jim Langan, and Pete Lubar, with Jordi Ferre serving as CEO. MycoTechnology primarily operates in North America and has plans for international expansion.MycoTechnology specializes in developing innovative ingredient solutions derived from fungi, aimed at transforming the food and beverage industry. Their core product offerings include ClearIQ™ Natural Flavor, ClearHT™ Natural Flavor, and Honey Truffle Sweet Protein, all designed to enhance flavor profiles, reduce sugar content, and improve the overall taste and functionality of food products. These solutions cater to various uses, such as mitigating off-notes, creating plant-based meat analogues, and developing clean-label products that meet consumer demands for healthier options. MycoTechnology serves a diverse clientele, including food manufacturers, restaurants, and beverage companies across North America, Europe, and Asia.MycoTechnology's revenue model operates through partnerships and direct business-to-business transactions with food and beverage companies. Clients engage with the firm to incorporate its flagship products into their production processes, facilitating seamless integration of their innovative flavor and ingredient solutions. Transactions typically involve bulk purchases of the company's natural flavor products and sweet proteins, tailored to meet the specific needs of individual clients, including product customization and consultation services. The company's approach fosters long-term relationships with customers, enabling continued collaboration for product development and innovation, accommodating varying scales of demand from small-scale artisanal producers to large multinational corporations.In March 2022, MycoTechnology raised USD 23.16 mn in Series E funding, led by Oman Investment Authority, to support the development of its fermentation technology platform and expand global operations. The company aims to launch its products in European, Asian, and Middle Eastern markets as priorities. The funding will facilitate the introduction of upcoming products and solutions that align with market trends and consumer preferences. ## Funding rounds - Series E, Mar 30, 2022, $23M — Oman Investment Authority, Continental Grain Company, S2G Ventures, Gaingels, Tyson New Ventures, Evolution VC Partners, Griffith Foods Inc., Bunge Ventures, Siddhi Capital, Maple Leaf Foods, Bloom8, Alphacy Investment - Series D, Jan 17, 2020, $47M — Seventure Partners, Evolution Capital Partners, Continental Grain Company Pension Plan, Middleland Capital, S2G Ventures, Gaingels, Eighteen94 Capital, Tyson New Ventures, Greenleaf Foods SPC, Rich Products Ventures, Bunge Ventures, Cibus Capital - Series C, Aug 31, 2018, $23M — Seventure Partners, ADM Capital, Continental Grain Company Pension Plan, Telkomsel Innovation Center, Middleland Capital, S2G Ventures, Tao Capital Partners, Gaingels, Closed Loop Capital, Eighteen94 Capital, Tyson New Ventures, TML-Invest, DNS-Hiitake, Bunge Ventures - Series B, Oct 18, 2017, $7M — Seventure Partners, Continental Grain Company Pension Plan, Ajinomoto Co., Inc., Middleland Capital, S2G Ventures - Series B, Aug 14, 2017, $35M — Seventure Partners, Bunge Investment Management, Continental Grain Company Pension Plan, GreatPoint Ventures, Ajinomoto Co., Inc., Windy City, Inc., Middleland Capital, S2G Ventures, Tao Capital Partners, Closed Loop Capital, Eighteen94 Capital, Emerson Collective - Series A, Jul 30, 2015, $9.2M — Seventure Partners, Wavemaker Partners, GreatPoint Ventures, Middleland Capital, S2G Ventures, Closed Loop Capital ## Investors - Seventure Partners (https://capitalatlas.ai/funds/seventure-partners) — Series A, Series B, Series C, Series D - Wavemaker Partners (https://capitalatlas.ai/funds/wavemaker-partners) — Series A - GreatPoint Ventures (https://capitalatlas.ai/funds/greatpoint-ventures) — Series A, Series B - Middleland Capital — Series A, Series B, Series C, Series D - S2G Ventures (https://capitalatlas.ai/funds/s2g-ventures) — Series A, Series B, Series C, Series D, Series E - Closed Loop Capital (https://capitalatlas.ai/funds/closed-loop-capital) — Series A, Series B, Series C - Bunge Investment Management — Series B - Continental Grain Company Pension Plan — Series B, Series C, Series D - Ajinomoto Co., Inc. — Series B - Windy City, Inc. — Series B - Tao Capital Partners (https://capitalatlas.ai/funds/tao-capital-partners) — Series B, Series C - Eighteen94 Capital (https://capitalatlas.ai/funds/eighteen94-capital) — Series B, Series C, Series D - Emerson Collective — Series B - ADM Capital — Series C - Telkomsel Innovation Center — Series C - Gaingels (https://capitalatlas.ai/funds/gaingels) — Series C, Series D, Series E - Tyson New Ventures (https://capitalatlas.ai/funds/tyson-new-ventures) — Series C, Series D, Series E - TML-Invest (https://capitalatlas.ai/funds/tml-invest) — Series C - DNS-Hiitake (https://capitalatlas.ai/funds/dns-hiitake) — Series C - Bunge Ventures — Series C, Series D, Series E - Evolution Capital Partners — Series D - Greenleaf Foods SPC — Series D - Rich Products Ventures (https://capitalatlas.ai/funds/rich-products-ventures) — Series D - Cibus Capital (https://capitalatlas.ai/funds/cibus-capital) — Series D - Oman Investment Authority — Series E - Continental Grain Company (https://capitalatlas.ai/funds/continental-grain-company) — Series E - Evolution VC Partners (https://capitalatlas.ai/funds/evolution-vc-partners) — Series E - Griffith Foods Inc. — Series E - Siddhi Capital (https://capitalatlas.ai/funds/siddhi-capital) — Series E - Maple Leaf Foods — Series E - Bloom8 (https://capitalatlas.ai/funds/bloom8) — Series E - Alphacy Investment (https://capitalatlas.ai/funds/alphacy-investment) — Series E