Conservation | November 18, 2020

MycoWorks secures $45 million to scale alt-leather production

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, November 18 — The San Francisco-based sustainable materials company makes a durable, animal- and plastic-free leather using mycelium, an ingredient sourced from fungi.

The company’s Series B round, co-led by WTT Investments and DCVC Bio, will enable the company to expand production at its new production facility. The round follows MycoWork’s $17 million equity round in February. 

MycoWork’s base ingredient comes from fungi’s fast-growing, protein-rich “root” structures. It’s also being used by alternative-meat companies, like Colorado-based Meati

Actress Natalie Portman and singer John Legend, both also existing investors, participated in the new round. Other investors include Valor Equity Partners, Humboldt Fund and Gruss & Co.