MadeRight Raises $2M for High-Performance Fungi-Based Packaging
Israeli startup MadeRight has raised $2 million in seed funding to further develop its fungi-based packaging solutions. The startup has created a solid-state fermentation process where mycelia turn industrial organic waste into biomass. Materials are then extracted from this biomass to form pellets that can be used in existing packaging manufacturing machines. When combined with bioplastics, the pellets have the potential to significantly improve performance and sustainability. The seed round was led by the incubator Fresh Start, with participation from Arkin Holdings and Arc Impact. It will be used to expand MadeRight’s development team, refine the production process, and enter new markets, with the goal of producing a commercially viable prototype by the end of 2024. “The great potential of MadeRight’s solution is to close …