Image source: Mushlabs
We are beyond excited to announce one of the current TechFounders startups, Mushlabs, has recently raised $10 million in Series A funding! Mushlabs started in TechFounders Batch #12 in July and is currently working on a pilot project together with our corporate partner ALDI Nord & ALDI SÜD. The Berlin-based biotech company uses fermentation to create the next generation of sustainable foods from mycelium, the “roots” of mushrooms. Mushlabs is dedicated to building solutions that change the way we consume food by offering products that are healthy and good to the planet.
According to the startup, mushrooms offer a great base for a variety of food products. They have natural umami, a savory taste that is characteristic to cooked meats and broths, which the company leverages in their products. In the startup’s production, a piece of mushroom mycelia is cultivated in their lab and fed with side streams of agro- and food industries. The production mimics the natural environment of mushrooms, where the mushrooms use decomposed organic material around them to feed themselves. The harvested biomass serves as the main raw ingredient of Mushlabs products. The products are packed with fibers and antioxidants and provide complete protein.
The six-figure funding round was led by VisVires and Redalpine, with participation of existing investors Happiness Capital and Joyce Partners. Mushlabs shared in the AgFunder News report that the funding will be used to scale up production to industrial levels and to build out a sales function. The startup’s production lab grows its biomass in just a few days, enabling fast all-year long production that is not dependent on climate or weather factors. This makes the innovation ideal for the overpopulating world and areas that are challenging for farming. Fermentors do not take up a lot of space and more importantly, can be located anywhere.