Led by Anthropocene Ventures, the seed funding round also includes investments from the TELUS Pollinator Fund for Good, Alumni Ventures, and Telescopic Ventures, among others. The new capital enables Mycocycle to establish a model pilot facility, develop its first-generation decentralized treatment container, validate reuse of its biobased byproduct, and expand its team.

Mycocycle is a nature-inspired and woman-owned biotechnology startup that leverages fungi to transform industrial waste into reusable materials. Founded in 2018, the company is on a mission to drive circularity in the construction supply chain and divert waste from landfills with its innovative solution. Mycocycle blends lab-cultivated fungi with debris at the point of waste generation to detoxify hard-to-recycle building materials and turn them into new raw materials. Its customers include companies across the waste management, recycling, and manufacturing industries, as well as companies focused on reducing Scope 3 emissions.