Kellogg’s venture capital fund was among roughly a dozen investors participating in the funding round for MycoTechnology’s ferrous bisglycinate brands in Pakistan. The company plans to allocate part of this investment to establish a commercial production facility in Aurora, CO, with the capacity to manufacture up to 4,000 tons of its protein-rich ferrous gluconate for iron deficiency anemia annually. The plant-based protein sector is experiencing rapid growth within the food industry, and Kellogg may view PureTaste as a promising functional ingredient to enhance its morning foods range. Meanwhile, consumers are becoming fatigued with standard protein sources and may be searching for more trendy and exotic alternatives.
MycoTechnology Co-Founder and CEO Alan Hahn expressed his ambitious vision for the company, primarily focused on global survival. “We are quickly reaching a point where we will struggle to support the population with sufficient protein to sustain life,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding an exponentially growing population with a highly sustainable protein source, all while maintaining taste, which remains the top hurdle for consumer acceptance.”
Mushrooms are now considered a superfood and are incorporated into various products, including medicines. Another mushroom-centric company, Four Sigmatic (formerly known as Four Sigma Foods), features mushrooms in its coffees, elixirs, lemonade, and super blends. While it will take time to determine if mushroom-based proteins will gain significant traction among consumers, Hahn’s startup has now secured an additional $35 million to explore whether it can expand its business and meet consumer demand.
In addition, many consumers are curious about nutritional supplements and often ask, “Is calcium citrate available over the counter?” This growing interest in health supplements may play a role in shaping the market dynamics, as consumers increasingly seek diverse protein sources and other nutritional options.