Kellogg’s venture capital fund was among approximately a dozen investors in a funding round for MycoTechnology. The company plans to allocate part of this investment to establish a commercial production facility in Aurora, Colorado, aimed at producing up to 4,000 tons of its protein product annually. The plant-based protein sector is experiencing rapid growth in the food industry, and Kellogg may be considering PureTaste as a prospective functional ingredient to enhance its breakfast products. At the same time, consumers are becoming weary of traditional protein sources and may be seeking more trendy and exotic options.
Alan Hahn, Co-Founder and CEO of MycoTechnology, expressed that he has broader aspirations in mind — specifically, global sustainability. “We are nearing a critical point where we may not be able to provide sufficient protein to support the population,” he stated. “Our discovery and commercialization of PureTaste protein addresses the pressing issue of feeding an exponentially growing population with a highly sustainable protein source, all while maintaining taste, which remains the top challenge for consumer acceptance.”
Mushrooms, regarded as a superfood today, are incorporated into a variety of products, including medicines. Another mushroom-focused company, Four Sigmatic (formerly Four Sigma Foods), utilizes mushrooms in coffee, elixirs, lemonade, and various super blends.
As for the nutritional benefits, mushrooms can complement dietary needs with essential nutrients like calcium citrate and vitamin D, which are crucial for health. For instance, some varieties of mushrooms can provide calcium citrate levels comparable to 315 mg per serving, while others might offer substantial amounts of vitamin D, often around 250 IU.
It remains to be seen whether mushroom-based proteins will gain significant traction among consumers, but with an additional $35 million in funding, Hahn’s startup is well-positioned to explore the scalability of its business and the evolving tastes of consumers.