Atlast Food Co., a spinoff from Ecovative Design headed by Eben Bayer, has secured $40 million from investors including Robert Downey Jr.’s Footprint Coalition Ventures. The fresh funds are in addition to the $60 million raised for Ecovative just this month, totalling $100 million which will be utilised to create the world’s largest mycelium farm which is set to produce 100 million pounds per year.
MyForest Foods Closes $15M Venture Loan for Whole Cut Mycelium Bacon
Horizon Technology Finance Corporation, a leading specialty finance company, announces it closed a $15 million venture loan to MyForest Foods Co., which produces mycelium-based bacon. Horizon states it funded $7.5 million toward the venture loan facility, with another $7.5 million contributed by advisor Horizon Technology Finance Management LLC. MyForest plans to use the loan proceeds for company growth and working capital purposes. Formerly known as Atlast, MyForest says it produces whole-cut animal-free meats from mycelium, the underground root structures of mushrooms. MyForest’s first product is MyBacon – gourmet strips created to offer the same taste, smokiness and crunch of traditional pork bacon. “Hyper-focused” on scaling Made from just six ingredients, MyBacon’s first pre-order sale sold out of its entire planned production run back in 2020. …