mushroom leather

Biomaterials company Bolt Threads has announced plans to become a public company listed on the Nasdaq through a SPAC agreement.

Dan Widmaier - Image courtesy of Ashley Batz for Bolt Threads
Investments & Finance

Bolt Threads Enters $250 Million SPAC Agreement to Go Public on Nasdaq with Sustainable Biomaterials

Biomaterials company Bolt Threads has announced it will become a public company listed on the Nasdaq through a SPAC agreement that values the company (Bolt Threads) at $250 million.  A pioneer in biomaterials with two sustainable products in the market, Mylo™ and b-silk™, the company will merge with Golden Arrow Merger Corp. (Nasdaq: GAMC). After the closing of the deal, the combined company will be named “Bolt Projects Holdings, Inc.” and is expected to remain listed on Nasdaq under “BSLK”. Dan Widmaier, founder and CEO of Bolt Threads, will lead the new company.  Mylo bag ©Bolt Threads Distributing biomaterials According to the statement, the concurrent financing deals are expected to provide at least $35 million of gross proceeds to the company, including fully committed common stock PIPE of up …

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Mylo Mushroom Leather

©Tsuchiya Kaban
Fashion, Design & Beauty

Tsuchiya Kaban Becomes First Japanese Brand to Debut Bolt Threads’ Mylo Mushroom Leather

Biotech startup Bolt Threads, which makes the mycelium-based leather known as Mylo, announces a new partnership with Japanese artisan leather brands Tsuchiya Kaban and Objcts.io.  Through the partnership, Tsuchiya and Objcts are launching three new products crafted with Mylo – including a Wallet Bag,  iPhone Case, and L Zip Purse. Alt-leather goods Available in limited quantities from Dec. 15th – Dec. 31st, the new lineup includes:  Wallet Bag – The back side and shoulder straps are made of “Tough Guard” synthetic leather, while the interior and exterior pockets are crafted with Mylo. According to Objcts, this bag is an animal-free product that functions as a smartphone pouch and wallet.  iPhone cases – Made of 50% recycled plastic material, including Mylo material on the back. Features …

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Really Clever biomaterials

© Really Clever
Facts & Figures

Really Clever: Biodegradable Leather Alternatives Made From Mushrooms & Algae

UK-based startup Really Clever is developing fully biodegradable vegan leather made entirely from mushrooms and algae. Really Clever describes itself as a “fungal discovery platform”, examining the characteristics of various types of fungi and matching them to relevant applications. The company claims it can customise every aspect of its leather alternatives and iterate the material in just 72 hours. Despite only having launched this year, Really Clever is already attracting interest from both the fashion industry and investors. The startup closed a pre-seed funding round earlier in the year, with participation from Hoxton Ventures and various angel investors. In the near future, Really Clever plans to raise £7.2 million, which it will use to open a 28,000-square-foot facility. This will allow the brand to begin …

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Fungi, Mushrooms & Mycelium

Former Hyundai Spin-off Mycel Raises $10M For Mycelium Biomaterials

South Korean fungi biomaterials startup Mycel, originally a spin-off of the Hyundai Motor Group, recently announced the completion of its $10 million pre-Series A funding round to commercialise its mycelium-based leather alternative in 2023. Mycel is utilising mycelium to create leather alternatives that may be used in automobile seats, high-end cosmetics, and fashion items like shoes, garments, and bags. The company’s website states its “mission is to stimulate the diverse imaginations of our customers through our technology, and together with our customers, make a huge move towards the transition to a sustainable renewable system,” and says it is “developing and testing new aesthetic designs/plans to diversify our portfolio of commercializable materials and products”. Hyundai Motor Group Since 2000, HMG has operated an internal venture system …

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Mylo Finished Sheets_Dan Widmaier_002_Courtesy of Heller-Leder

Mylo Finished Sheets, image Courtesy of Heller-Leder
Leather Alternatives

World Leading Leather Tannery’s Partnership With Bolt Threads Marks Its First Foray Into Alt Leather in 100 Years

Bolt Threads, which produces the famous Mylo mushroom leather, is set to upscale with the help of conventional tannery Heller-Leder, an industry leader that works with notable companies such as Porsche and furniture company Rolf Bennz. The collaboration with Bolt Threads marks the first time the tannery has worked with a material other than conventional leather. According to Bolt Threads, Heller-Leder’s willingness to work with Mylo is a testament to the material’s quality, functionality, and durability. The company claims these features are on par with conventional leather. Bolt Threads is increasing production to gear up for the first commercial launches of Mylo, which will take place next year in collaboration with Stella McCartney, lululemon, and adidas Earlier this month, Stella McCartney debuted a bag made …

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Hermes LinkedIn

©Hermes

Textiles

High Fashion House Hermès Collaborates With MycoWorks For Mushroom-Based Version of the Victoria Bag

French high fashion brand Hermès may be looking forward towards sustainable alternatives to leather as it reveals a new bag made using a mushroom-based vegan leather alternative. The brand has collaborated with California startup MycoWorks, the mycelium leather producer which has received investments from the likes of John Legend and Natalie Portman. 

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Natalie Portman Facebook

Image source: Natalie Portman Official Facebook

Fashion, Design & Beauty

Natalie Portman and John Legend Participate in $45M Round For MycoWorks

San Francisco-based MycoWorks, manufacturer of vegan leather alternatives from mycelium mushroom, announces the closing of a $45 million Series B financing round with participants including celebrities Natalie Portman and John Legend, and the opening of a major new Reishi™ production plant in Emeryville, California.

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Made with Reishi

© Made with Reishi by MycoWorks
Fashion, Design & Beauty

MycoWorks Raises $17M to Meet Demand for Luxury Leather Products Made From Reishi Mushroom

MycoWorks, creator of a sustainable, fine mycelium leather alternative called Reishi, today announces $17 million in Series A financing for its mycelium based fabrics for the luxury fashion market. The round was led by DCVC Bio, with participation from others including Novo Holdings and 8VC, Future Tech Labs, and AgFunder.

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