Mycoworks, betting on scalability of mushroom-derived materials

The last funding round of $45 million, a full four years ago, was attended by pure financiers, industry companies and even celebrities who have always been at the forefront of sustainability (and vegans) such as Natalie Portman and John Legend.

The bet of Mycoworks, the Californian biotech company that owns the Fine Mycelium technology with which Reishi is made, a patented alternative material to leather made from mycelium (the vegetative apparatus of mushrooms, made up of filaments, ed), is to make what today may be of interest to a niche of consumers, a widely used option. In a world that, perhaps, in a few years' time will have to reckon with a more generalised decline in meat consumption and, therefore, with less 'access' to animal skins (which are mainly industrial waste).

The company was founded in 2013 by a trio of artists: Philip Ross, Sophia Wang and Eddie Pavlu. And it is Sophia herself who explains the genesis of the project: "The idea of creating the company came from what we observed during a creative process: mycelium is an extremely versatile material that can be applied in the most diverse sectors, from art to design. Starting from a creative, rather than entrepreneurial, point of view has allowed us to take a different look at the development of the company'. Which, to date, has filed 75 patents and has a staff of 160 in the USA, France and Spain. And it looks far beyond: according to Wang, who lives in California, 'our work intercepts a growing demand from consumers and our task is to make this production as scalable as possible. Now, for example, we have a factory in Union, South Carolina that produces Reishi, a material made from mycelium that is extremely customisable'. According to the founder, 'the goal is to revolutionise the fashion industry: we need visionary leaders to drive this change'. Even in brands, which have begun a dialogue with Mycoworks: Hermès and Ligne Roset are among them.

Matt Scullin, CEO of Mycoworks, also talks about the scalability of the project: 'We have developed an alternative to leather that also responds to the industry's need, since more and more people in the world do not eat meat,' he explains, 'and I believe that in the next few years, being able to produce more in terms of volume, the price will come down. At the moment, however, Mycoworks' interlocutors are luxury brands: 'They want something that is not only aesthetically pleasing in quality, but also profoundly innovative'.