Infinite Roots, a leader in mycelium technology, has raised $58 million in Series B funding. This marks Europe’s largest investment in mycelium technology. The company, formerly known as Mushlabs, is at the forefront of mycelium-based nutrition development. Their patented fermentation technology creates a unique food category, distinct from plant-based and cultured meat products. Infinite Roots uses edible mushroom strains in its biomass fermentation process. They focus on creating meat alternatives that are minimally processed with a clean label.
Asset-light approach
Infinite Roots adopts an asset-light approach, unlike other startups in the field. They work with contract manufacturers for pilot and industrial-scale production. The company aims to use existing infrastructure to stay asset-light and focus on revenue generation. A strategic partnership with Bitburger Brewery Group utilizes spent grains as feedstock and repurposes brewery infrastructure for mycelium growth. This collaboration will bring commercial quantities of product to market within 12-18 months.
Plans for latest funding
The substantial funding will usher Infinite Roots into a new commercial growth phase. With a team of sixty-seven from twenty-five countries, the company plans to expand production capacities and invest in global launch activities. Their goal is to transform the global food system with mycelium applications. Dr. Mazen Rizk, Founder and CEO, envisions leading a shift toward a sustainable and healthy food system.
Rethinking food production and consumption has never been more pressing and requires our collective efforts. We are thrilled to join forces with industry champions to establish the next generation of tasty, healthy, and sustainable foods. We are in a unique position to define a new era of mushroom mycelium-based products. With Infinite Roots’ technology and products, we aspire to lead the monumental shift to a more sustainable and healthy food system.
Dr. Mazen Rizk, Founder and CEO of Infinite Roots
Industry perspectives
Dr. Reinhard Schneider from Dr. Hans Riegel Holding GmbH and Svetoslava Georgieva, Chair of the EIC Fund Board, lauded Infinite Roots’ potential in contributing to a sustainable food supply. They anticipate an exciting journey with the team, aligning consumer appetites with planetary health.
Pioneering mycelium fermentation technology
Infinite Roots, with its pioneering role in mycelium technology, has secured capital from leading European entities, including the holding company behind Haribo. This investment is a testimony to their technology and expertise. The successful funding underscores the company’s potential and strong partnerships. Infinite Roots aims to play a pivotal role in transforming global food systems, addressing the needs of an expanding population sustainably.
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