According to Vegconomist, MycoWorks, the developer of a sustainable, fine mycelium leather alternative called Reishi, has raised $17 million in Series A financing for its mycelium based fabrics for the luxury fashion market. The round was led by DCVC Bio, with participation from others including Novo Holdings and 8VC, Future Tech Labs, and AgFunder.

MycoWorks is a biotechnology company that makes fine leathers from mycelium (mushroom) for applications in luxury fashion, footwear, and beyond. We are currently shipping product, and we are backed by some of the leading venture capital firms in Silicon Valley. Our mission is to impact the world with new materials that have superior performance to animal leathers and plastic. Our products currently match or exceed animal leathers in their performance, so we are embarking on an aggressive scale-up plan to meet extraordinary customer demand while also continuously innovating to create new materials and methods of manufacturing.