We’ve always believed in the potential of mycelium – and now some of Europe’s biggest investors do too. Dr. Hans Riegel Holding (HRH), the EIC Fund, and REWE Group lead the Series B funding round.

Since our inception, we’ve remained steadfast in our mission to revolutionize the food industry. Now, with the backing of some of Europe’s largest investors, that vision has gained even greater momentum.

Amidst a challenging fundraising landscape, we’re thrilled to have raised $58 million USD from a diverse range of international investors. The round was led by the Dr. Hans Riegel Holding (HRH), of Haribo fame, and supported by the EIC Fund, an initiative of the European Commission aimed at making direct equity investments in highly innovative start-ups and SMEs.

Following the announcement, Svetoslava Georgieva, Chair of the EIC Fund Board, emphasized that “it is high time for consumers to be able to reconcile their appetite for good food and their willingness to act for the planet and for their health.” We are proud to bridge the gap.

Other notable backers include the German trade and tourism cooperative REWE Group, Thailand-based VC Betagro Venture, and existing investors Clay Capital, FoodLabs, Redalpine, Simon Capital and Happiness Capital. 

The largest mycelium investment in Europe

The investment marks the largest in mycelium in Europe thus far, a testament not only to our technology and expertise but also to the broader innovation taking root in the food industry. 

We are deeply encouraged by the confidence companies have shown in our technology’s capacity to revolutionize food production using edible mushroom mycelium. This reaffirms our leadership in the field and underscores our ability to attract strategic partners. Our recent partnership with Pulmuone to enter the South Korean market exemplifies this synergy.

“Rethinking food production and consumption has never been more pressing, and requires our collective efforts. We are thrilled to join forces with industry champions to establish the next generation of tasty, healthy and sustainable foods,” said Dr. Mazen Rizk, Founder and CEO of Infinite Roots®.

Mycelium: The key to sustainable nutrition

Mycelium, an infinitely versatile ingredient and the catalyst for our sustainable food revolution, is packed with essential nutrients that include complete proteins, prebiotic fibers, vitamins such as B and D, important minerals like potassium, calcium, and magnesium, as well as antioxidants and other bioactive compounds. It not only forms the foundation of our tasty and healthy products but also presents a unique third category of nutrition, distinct from traditional animal-based and plant-based options.

This latest round of funding caps off a series of significant milestones, marking the dawn of a new era of commercial growth for our company. From our corporate rebrand from Mushlabs to Infinite Roots® in November 2023 to our invitation to present our vision at COP28 in Dubai, each step forward solidifies our commitment to reshaping the future of food.