Kellogg’s venture capital fund was one of around a dozen investors participating in the funding round for MycoTechnology. The company plans to utilize part of this investment to establish a commercial production facility in Aurora, Colorado, aiming to produce up to 4,000 tons of its protein product annually. The plant-based protein sector is experiencing significant growth in the food industry, and Kellogg may consider PureTaste as a potential functional ingredient to enhance its breakfast offerings. As consumers become saturated with traditional protein sources, they may seek more trendy and exotic alternatives.
MycoTechnology Co-Founder and CEO Alan Hahn has ambitious goals, focusing on global sustainability. “We are rapidly approaching a time where we will be unable to support the population with enough protein to sustain life,” he stated. “Our discovery and commercialization of PureTaste protein addresses the challenges of feeding a rapidly growing population with a highly sustainable protein source, all while maintaining taste, which is the primary hurdle for consumer acceptance.”
Mushrooms are now recognized as a superfood and are incorporated into various products, including medicines. Another mushroom-based company, Four Sigmatic (formerly Four Sigma Foods), utilizes them in its coffees, elixirs, lemonades, and diverse mushroom blends. Although it will take time to determine whether mushroom-based proteins will gain widespread consumer acceptance, Hahn’s startup now has an additional $35 million to explore scaling its business and satisfying consumer demand.
In the context of health and nutrition, consumers are also curious about various dietary supplements, such as whether calcium citrate has side effects. This interest in wellness trends aligns with the growing appetite for innovative protein sources, as consumers look for alternatives that not only meet their nutritional needs but also promote overall health.