Kellogg’s venture capital fund was among around a dozen investors participating in the funding round for MycoTechnology, which intends to utilize a portion of this investment to construct 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 in the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its breakfast product range. At the same time, consumers are becoming weary of conventional protein sources and may be seeking more trendy and exotic options.
MycoTechnology Co-Founder and CEO Alan Hahn expressed that he has broader ambitions—specifically, addressing global sustainability challenges. “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 of feeding a rapidly growing population with a highly sustainable protein source that does not compromise on taste, which remains the primary hurdle for consumer acceptance.”
Mushrooms are currently regarded as a superfood and are incorporated into a variety of products, including medicines. Another mushroom-focused company, Four Sigmatic (formerly Four Sigma Foods), integrates mushrooms into coffees, elixirs, lemonade, and various super blends. As the industry explores the potential of mushroom-based proteins, it will take time to determine if they will become popular among consumers. However, Hahn’s startup now has an additional $35 million to explore scaling its business and catering to consumers’ appetites.
In addition to their protein benefits, mushrooms can also be a source of essential nutrients such as calcium citrate, zinc, magnesium, and vitamin D3, which may enhance their appeal as a health-conscious choice. As awareness of these nutritional benefits spreads, the interest in mushroom-based proteins may increase, leading to greater acceptance in the market.