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Oregon startup raises $35M to produce mushroom powder

Four-year-old Oregon based MycoTechnology, which makes mushroom-based powders that curb the taste of bitterness or add protein to foods, raised $35 million, according to an SEC filing Aug. 29.

This is the startup’s largest investment round to date, bringing the total amount of outside funds raised to $45.5 million since 2013, according to a tally of SEC documents.

According to its website, ClearTaste is a powder made from the chemical mycelium in mushrooms that is meant to block the taste of bitterness. MycoTechnology says it sells ClearTaste to tea, coffee and alcohol producers looking for a way to fight bitterness without adding more sugar.

PureTaste is a protein source made from Shiitake mushrooms that can be added to pastas, bread, salad dressing or other food. The company says the product was developed as an alternative to animal-based protein.

Publication date: 9/7/2017


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