Ecovative has raised $60M to scale up its work turning mushrooms into sustainable materials. The company uses myceliumβthe root structure of fungiβto create everything from packaging to leather alternatives.
The funding will help grow its Mycelium Foundry, a research and production platform focused on developing new strains and applications for mycelium. The goal is to make these bio-based materials cost-effective at scale and a viable replacement for plastics, leather, and foam.