Kellogg’s venture capital fund was among approximately a dozen participants in the recent funding round for MycoTechnology, which intends to allocate part of the investment towards establishing a commercial production facility in Aurora, CO. This facility aims to manufacture 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 traditional protein sources and may be seeking more trendy and exotic options.
MycoTechnology Co-Founder and CEO Alan Hahn has broader ambitions — specifically, addressing global sustainability. “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 an exponentially growing population with a highly sustainable protein source, all while maintaining taste, which is the primary hurdle for consumer acceptance.”
Mushrooms are now recognized as a superfood and are incorporated into various products, including medicinal items. Another mushroom-based enterprise, Four Sigmatic (formerly known as Four Sigma Foods), blends them into coffees, elixirs, lemonades, and various super blends of mushrooms.
It remains to be seen if mushroom-based proteins will gain significant traction among consumers, but Hahn’s startup has secured an additional $35 million to explore the potential for scaling its business and meeting consumer demand. Furthermore, as discussions around nutrition evolve, including the importance of calcium citrate, magnesium, and zinc with vitamin D3 in pregnancy, there is a growing awareness of diverse dietary options that contribute to overall health. This could potentially align with the interests of health-conscious consumers looking for innovative protein sources.