MycoWorks

MycoWorks

Produces mycelium-based leather alternative

About MycoWorks

Simplify's Rating
Why MycoWorks is rated
B
Rated B on Competitive Edge
Rated A on Growth Potential
Rated C on Rating Differentiation

Industries

Industrial & Manufacturing

Consumer Goods

Company Size

201-500

Company Stage

Series C

Total Funding

$187M

Headquarters

Emeryville, California

Founded

2013

Overview

MycoWorks produces a leather alternative called Reishi™, made from mycelium, which is a part of fungus. This material is designed to be sustainable and is appealing to fashion brands and designers seeking eco-friendly options. Reishi™ has already been used in luxury items, showcasing its performance and aesthetic qualities. MycoWorks has established a large production facility in South Carolina, which is the first of its kind for commercial-scale Fine Mycelium™ production, allowing them to meet the increasing demand for sustainable materials in the fashion industry. Unlike traditional leather, Reishi™ offers a more environmentally friendly choice, positioning MycoWorks uniquely in a market projected to grow significantly. The company's goal is to capture a substantial share of the leather goods market by providing a sustainable alternative that aligns with the values of modern consumers.

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Simplify's Take

What believers are saying

  • Growing demand for sustainable materials boosts MycoWorks' market potential in fashion and design.
  • Partnerships with luxury brands like Ligne Roset ensure stable revenue streams for MycoWorks.
  • The new South Carolina facility allows MycoWorks to meet increasing demand for Reishi™.

What critics are saying

  • Competition from other mycelium leather producers like Bolt Threads may impact market share.
  • Economic downturns could reduce luxury brand spending, affecting MycoWorks' revenue.
  • Expanding into new markets may stretch MycoWorks' resources, impacting core operations.

What makes MycoWorks unique

  • MycoWorks' Reishi™ is a sustainable alternative to traditional leather, made from mycelium.
  • Reishi™ offers unique aesthetics with distinctive veining and organic patterns, unlike other materials.
  • MycoWorks' Fine Mycelium™ technology enables industrial-scale production, setting it apart from competitors.

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Funding

Total Funding

$187M

Above

Industry Average

Funded Over

3 Rounds

Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Above Average

Industry standards

$50M
$50M
Medium
$62M
SeatGeek
$100M
Oura
$125M
MycoWorks

Benefits

Health Insurance

Dental Insurance

Vision Insurance

Equity

401(k) Retirement Plan

FSA Accounts

Paid Parental Leave

Paid Holidays

Unlimited Paid Time Off

Growth & Insights and Company News

Headcount

6 month growth

0%

1 year growth

0%

2 year growth

3%
PR Newswire
Apr 4th, 2025
Reishi™ Enters A New Era Of Interior Design With Its First Industrial Collaboration With Ligne Roset

As one of the natural, non-animal materials available at industrial scale, Reishi™ offers a unique blend of performance, durability, and aesthetics, redefining what is possible in sustainable design.Reishi™: A Game-Changer for the Future of DesignFor years, biomaterials have remained on the fringes of design—too delicate, too niche, or too limited for industrial application. Reishi™ changes this narrative. Thanks to MycoWorks' patented Fine Mycelium™ technology, Reishi™ is the first biomaterial to deliver both exceptional aesthetics and technical performance at scale.Chosen by Ligne Roset for the Kobold sofa, Reishi™ meets the rigorous requirements of contemporary furniture production while offering a new sensory and visual experience:Unparalleled Performance : Resistant to daily wear, Reishi™ combines strength, supple elasticity, and durability—qualities essential for interior applications.: Resistant to daily wear, Reishi™ combines strength, supple elasticity, and durability—qualities essential for interior applications. A Living Material: Like the finest natural materials, Reishi™ develops a patina over time, enhancing its beauty while preserving its structural integrity.Like the finest natural materials, Reishi™ develops a patina over time, enhancing its beauty while preserving its structural integrity. A Unique Aesthetic : Each sheet of Reishi™ carries its own distinctive veining and organic patterns, creating designs that are one-of-a-kind—echoing the natural beauty of marble or leather.: Each sheet of Reishi™ carries its own distinctive veining and organic patterns, creating designs that are one-of-a-kind—echoing the natural beauty of marble or leather. Industrial Scalability: Unlike other biomaterials, Reishi™ is available at scale, offering a reliable, sustainable alternative to traditional materials for major design brands."At MycoWorks, we believe that art inspires science, and that mycelium can redefine the future of design," says Sophia Wang, co-founder of MycoWorks

International Leather Maker
Feb 26th, 2025
MycoWorks launches Reishi biomaterial

Spanish biomaterials company MycoWorks has launched its Reishi material, using Rei-Tanning technology.

FashionUnited
Feb 25th, 2025
MycoWorks' Reishi material launches commercially

Biomaterials company MycoWorks has launched an e-commerce site for its mycelium-made materials, allowing for them to be immediately purchased online for the first time.

Designboom
Oct 11th, 2024
MycoWorks x paragone launch women-made mycelium leather objects at design miami.paris

Biotechnology company MycoWorks has joined forces with Paris-based design agency Paragone to launch the exclusive Mycelium Muse collection.

AgFunder News
Jul 22nd, 2024
Cadillac Unveils Concept Convertible Ev Featuring Mycelium-Based Décor From Mycoworks

[Disclosure: AgFunderNews’ parent co AgFunder is an investor in MycoWorks.]. General Motors has unveiled a concept car—the ‘SOLLEI’ convertible electric vehicle—featuring MycoWorks’ ‘Fine Mycelium’ bio-based materials in the interior. The luxury convertible includes MycoWorks’ biomaterials in the charging mats on the console, the door map pockets, and custom accessories, says the startup, which secured an undisclosed investment from GM Ventures—General Motors’ venture arm—in August 2022

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