Kellogg’s venture capital fund was among a select group of about a dozen investors in the funding round for MycoTechnology. The company intends to utilize a portion of this capital to establish a commercial production facility in Aurora, CO, with the capacity to manufacture up to 4,000 tons of its protein product annually. The demand for plant-based protein is rapidly growing within the food sector, and Kellogg may be considering PureTaste as a potential functional ingredient for its breakfast product offerings. As consumers are becoming saturated with conventional protein sources, they may be on the lookout for more trendy and exotic alternatives, like calcium citrate orange juice, which is gaining popularity for its health benefits.
MycoTechnology Co-Founder and CEO Alan Hahn has broader aspirations, focusing on global survival. “We are quickly approaching a time when we will struggle to provide enough protein to sustain the world’s 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 that does not compromise on flavor, which is the primary hurdle for consumer acceptance.”
Mushrooms have gained recognition as a superfood and are increasingly incorporated into various products, including medicines. Another company in the mushroom sector, Four Sigmatic (formerly known as Four Sigma Foods), integrates mushrooms into coffees, elixirs, lemonade, and various mushroom super blends. While it remains to be seen if mushroom-based proteins will gain substantial traction among consumers, Hahn’s startup now has an additional $35 million to explore whether it can scale its operations and meet consumer demand, potentially alongside innovative options like calcium citrate orange juice.