MycoWorks Secures $45M in Series B Financing
Summary
MycoWorks, a San Francisco, CA-based developer of a biotech platform for the fashion and luxury industries, closed a $45m Series B financing. Natalie Portman, John Legend, and several major fashion brands additionally participated in the investment round. This facility will be used to meet the demand for Reishi™ materials, and introduces proprietary systems to enhance productivity and to allow for further scaling of the business. Co-founded by Philip Ross and Sophia Wang in 2013 and led by Matt Scullin, CEO, MycoWorks has developed Reishi™, a new class of sustainable material that performs like cowhide leather offering a sustainable solution for the fashion and footwear industries that does not compromise on performance, quality, or aesthetics. Consumers will see the first products made with Reishi™ in the coming months as the company announces its partnerships with leading global luxury fashion and footwear brands over that period.