Daily Markup

Daily Markup #603: Mycotech Lab raises US$1.2M to scale up production of its sustainable leather-like material for the fashion industry

October 5, 2022 · 2 min read
Credit: MYCL

Fashionable Fungi

  • Mycotech Lab (MYCL) developed a new scientific process to grow mushrooms for mycelium, and the 500-backed biotech company just raised US$1.2M in pre-Series A funding from investors AgFunder, Temasek Lifesciences Accelerator, and others to scale up production and meet demand from their fashion brand partners.
  • What’s cool about their technology? Mycelium is the vegetative part of mushrooms that works as a natural adhesive. It’s then used to bind agricultural waste — such as corn husks and wood chips — to grow Mylea, a sustainable leather-like material that’s also fireproof, waterproof, and flexible!
  • So, what does Mylea actually look like? Check out their first leather sandals, Mimic Mylea!
  • In addition to Mylea, the team will develop Biobo, mycelium for residential, industrial, and public spaces. 
  • The Indonesia-based company also has plans to open research laboratories in Japan and Singapore. What a long way the team has come from their original Kickstarter campaign!
  • Their ultimate goal? CEO Adi Reza Nugroho wants to reduce the use of animals in the fashion industry by providing sustainable materials that don’t compromise on quality.
  • Peter Chia, CEO at Temasek Life Sciences Accelerator and Temasek Life Sciences Laboratory, added, “MYCL is at an inflection point where transdisciplinary bioengineering research is poised for significant contributions toward sustainability.”
  • Congratulations to the MYCL team!
  • Read the full story on e27.
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