French Mycelium Startup MYCFOODS Launches First Fundraising Round
MYCFOODS, a French startup specializing in mycelium-based foods, has launched its first fundraising round to support the industrial scaling of its innovative food products. The brand, under the company Mycelium Technologies, has a goal of raising €750,000 from qualified business angels, with plans for a subsequent €4.5 million venture capital round next year. The company’s product, developed over four years of research and development, uses mycelium as the main ingredient. This new food offers a natural, clean-label alternative to traditional meat and fish, as well as ultra-processed plant-based products. According to the EIT Food Consumer Observatory, 60% of Europeans are moving away from ultra-processed plant-based alternatives due to concerns about their health impacts. MYCFOODS’ combines the firm texture of mycelium with a subtle flavor profile, …