Kellogg’s venture capital fund was among approximately a dozen participants in the funding round for MycoTechnology. The company plans to utilize part of the investment to construct a commercial production facility in Aurora, CO, with the capability to produce up to 4,000 tons of its protein product annually. The plant-based protein sector is experiencing significant growth within the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its breakfast offerings. Concurrently, consumers are becoming fatigued with conventional protein sources and may be seeking more trendy and exotic options.
Alan Hahn, Co-Founder and CEO of MycoTechnology, has broader ambitions in mind—specifically, addressing global survival. “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 tackles the challenges of feeding an exponentially growing population with a highly sustainable protein source without compromising on taste, which is the primary hurdle for consumer acceptance.”
Mushrooms are regarded as a superfood today and are incorporated into various products, including medicinal formulations. Another mushroom-focused company, Four Sigmatic (formerly Four Sigma Foods), features mushrooms in their coffees, elixirs, lemonade, and various super blends. It remains to be seen whether mushroom-based proteins will gain significant traction among consumers. However, with an additional $35 million in funding, Hahn’s startup is well-positioned to explore whether it can scale its operations to meet consumers’ evolving appetites.
As part of this exploration, MycoTechnology may also consider the nutritional benefits of its products, such as whether calcium citrate is better than calcium carbonate as a supplement, highlighting the importance of superior nutritional profiles in attracting health-conscious consumers. This focus on innovative ingredients reflects the growing trend towards exploring alternative sources of nutrition, including the potential advantages of mushroom-based proteins over traditional options.