Mycocycle Raises $3.6 Million to Transform Waste into Sustainable Raw Materials with Fungi
CHICAGO, May 08, 2024 (GLOBE NEWSWIRE) -- Mycocycle , a nature-inspired, woman-owned biotechnology company that uses fungi to transform organic waste into reusable materials, today announced an oversubscribed $3.6 million Seed extension.
- CHICAGO, May 08, 2024 (GLOBE NEWSWIRE) -- Mycocycle , a nature-inspired, woman-owned biotechnology company that uses fungi to transform organic waste into reusable materials, today announced an oversubscribed $3.6 million Seed extension.
- The funding brings Mycocycle to $7.3 million raised to date and follows the company’s announcement of a $2.2 million Seed round one year ago.
- Mycocycle will use the funding to deepen relationships with existing partners for waste materials, further scale its waste-to-value chain, and make key leadership hires for marketing, technology, and operations teams.
- Raw material production: Mycocycle produces harvestable raw materials that can go into products like industrial fillers, fibers, or foams.