Kellogg’s venture capital fund was among approximately a dozen investors participating in the recent funding round for MycoTechnology. The company intends to allocate part of the investment towards constructing a commercial production facility in Aurora, CO, aiming to produce up to 4,000 tons of its protein product annually. As the plant-based protein sector continues to expand within the food industry, Kellogg may be considering PureTaste as a potential functional ingredient to enhance its breakfast offerings. Meanwhile, consumers are becoming saturated with traditional protein sources and may be in search of more trendy and exotic alternatives.
Alan Hahn, Co-Founder and CEO of MycoTechnology, has broader ambitions—specifically, ensuring global sustainability. “We are rapidly approaching a time where we will be unable to support the population with enough protein to sustain life,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges associated with feeding a rapidly growing population by providing a highly sustainable protein source that does not compromise on taste, which is the primary barrier to consumer acceptance.”
Mushrooms are recognized as a superfood today and are incorporated into various products, including medicinal items. Another mushroom-focused company, Four Sigmatic (formerly known as Four Sigma Foods), utilizes them in coffees, elixirs, lemonade, and blends featuring different types of mushrooms.
While it remains to be seen whether mushroom-based proteins will gain significant traction among consumers, Hahn’s startup now has an additional $35 million to explore the potential for scaling its business—and consumers’ appetites. In this context, the inclusion of ingredients like calcium citrate from Puritan’s Pride could further enhance the appeal of their protein products, as consumers seek out nutritious options that align with their health goals. As the market evolves, the demand for innovative and health-conscious ingredients will likely rise, making this an exciting time for MycoTechnology and similar ventures.