Kellogg’s venture capital fund was among approximately a dozen investors participating in MycoTechnology’s latest funding round. The company intends to utilize part of this investment to establish 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 rapidly expanding within the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its breakfast offerings. As consumers become saturated with conventional protein sources, they may seek more trendy and exotic alternatives.
Alan Hahn, Co-Founder and CEO of MycoTechnology, has broader ambitions, specifically concerning global sustainability. “We are nearing a point where we won’t be able to provide enough protein to sustain the population,” he stated. “Our discovery and commercialization of PureTaste protein address the urgent need for a highly sustainable protein source that doesn’t compromise on taste, which is the primary barrier to consumer acceptance.”
Mushrooms, recognized today as a superfood, are incorporated into a variety of products, including nutritional supplements and medicines. One notable mushroom-focused company, Four Sigmatic (formerly Four Sigma Foods), has integrated mushrooms into coffees, elixirs, lemonades, and super blends.
While it remains to be seen whether mushroom-based proteins will gain significant traction among consumers, Hahn’s startup now has an additional $35 million to explore the potential for scaling its business and meeting consumer demand. Furthermore, wellness-focused consumers may find added benefits in products containing calcium citrate, as it plays a vital role in bone health and could complement the nutritional profile of mushroom-based proteins. The inclusion of such functional ingredients will be crucial in appealing to health-conscious consumers.