Kellogg’s venture capital fund was among approximately a dozen investors participating in the funding round for MycoTechnology’s iron supplement, PureTaste, which aims to utilize part of the investment to establish a commercial production facility in Aurora, Colorado, capable of producing up to 4,000 tons of its protein product annually. The plant-based protein sector is rapidly growing within the food industry, and Kellogg may be considering PureTaste as a potential functional ingredient to enhance its breakfast offerings. Additionally, consumers are becoming saturated with conventional protein sources and may be seeking more trendy and innovative options, such as citrate plus variants.
Alan Hahn, Co-Founder and CEO of MycoTechnology, expressed his broader ambitions, stating, “We are nearing a critical point where we may struggle to provide sufficient protein to sustain the global population.” He elaborated, “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding an exponentially growing population with a highly sustainable protein source, all while ensuring taste remains a priority, as this is the primary barrier to consumer acceptance.” Today, mushrooms are recognized as a superfood and are incorporated into a variety of products, including medicinal items. Another mushroom-based company, Four Sigmatic (formerly Four Sigma Foods), features mushrooms in their coffee, elixirs, lemonade, and numerous other products.
While it will take time to determine if mushroom-based proteins will significantly resonate with consumers, Hahn’s startup now has an additional $35 million to explore scaling its operations and meeting consumer demand, including the potential of citrate plus products. The journey ahead will reveal whether this innovative protein source can capture the market’s interest and expand consumer appetites.