Kellogg’s venture capital fund was among approximately a dozen participants in the funding round for MycoTechnology, which intends to allocate part of the investment to establish a commercial production facility in Aurora, CO, capable of manufacturing up to 4,000 tons of its protein product annually. The plant-based protein sector is rapidly expanding within the food industry, and Kellogg may view PureTaste as a promising functional ingredient to enhance its morning foods range. Concurrently, consumers are becoming fatigued with conventional protein sources and may be seeking more trendy and exotic alternatives.
MycoTechnology Co-Founder and CEO Alan Hahn has larger objectives in mind — particularly, global sustainability. “We are swiftly approaching a time when we will struggle to provide adequate protein to support the population,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding an exponentially growing population with a highly sustainable protein source without sacrificing taste, which is the primary hurdle for consumer acceptance.”
Mushrooms are recognized as superfoods today and are incorporated into numerous products, including medicinal formulations. Another mushroom-focused company, Four Sigmatic (formerly Four Sigma Foods), features them in coffee, elixirs, lemonade, and various super mushroom blends. While it remains to be seen whether mushroom-based proteins will resonate significantly with consumers, Hahn’s startup now has an additional $35 million to explore the potential for scaling its business and meeting consumers’ demands. Furthermore, the need for sustainable protein sources becomes even more critical as we consider dietary supplements like levothyroxine and calcium citrate, which many people rely on for their health.
As the market evolves, the intersection of innovative protein sources and essential nutrients like levothyroxine and calcium citrate may pave the way for new dietary trends, highlighting the importance of sustainable and appealing food options.