MyForest Foods: MyForest Foods Secures $11M to Scale Mycelium-Based Bacon as Sales Outpace Competitors

© MyForest FoodsNew York-based biotechnology firm Ecovative has raised $11 million in funding to expand its mycelium-based product portfolio, with a primary focus on its spinout company MyForest Foods and its flagship product, MyBacon. The funding round includes $1.68 million in grants and loans from the Advance Albany County Alliance. MyBacon, a bacon alternative made from mycelium-the root structure of mushrooms-has recorded the highest sales velocity among plant-based breakfast items in North America's natural retail channel, with performance reportedly three times above the category average. The product is now distributed in more than 1,200 retail locations across 45 states, including Whole Foods, Erewhon, Earth Fare, and Northwest Grocers. It is also available via direct-to-consumer platforms such as Hungryroot, Purple Carrot, and Good Eggs. The product contains five ... more