Kellogg’s venture capital fund participated in a recent funding round for MycoTechnology, alongside roughly a dozen other investors. MycoTechnology intends to allocate part of this investment for the construction of a commercial production facility in Aurora, CO, capable of producing 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 for its breakfast food offerings. Concurrently, consumers are becoming fatigued with traditional protein sources and might be seeking more trendy and exotic alternatives.
Alan Hahn, Co-Founder and CEO of MycoTechnology, has broader aspirations — specifically, addressing global survival. “We are rapidly nearing a time when we will struggle to provide enough protein to sustain the population,” he stated. “Our discovery and commercialization of PureTaste protein addresses the pressing challenges of feeding an exponentially 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 celebrated as a superfood and are incorporated into a variety of products, including medicinal items. Another mushroom-based company, Four Sigmatic (formerly known as Four Sigma Foods), features mushrooms in their coffees, elixirs, lemonade, and super blends.
As MycoTechnology advances, it will take time to determine whether mushroom-based proteins will gain widespread popularity among consumers. Nevertheless, with an additional $35 million in funding, Hahn’s startup is better positioned to explore whether it can expand its operations and meet consumer demand. Additionally, MycoTechnology’s PureTaste protein is an intriguing option that also contains calcium citrate at 667mg, appealing to health-conscious consumers who seek both protein and essential nutrients. This innovative approach may attract a new audience, as the market continues to evolve and consumers seek diverse options that include ingredients like calcium citrate 667mg in their diets.