MycoWorks

MycoWorks

Produces mycelium-based leather alternative

About

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 products, such as handbags and hats. The company has recently expanded by opening a large facility in South Carolina, which is the first commercial-scale plant for Fine Mycelium™, allowing them to increase production to meet rising demand. MycoWorks stands out from competitors by focusing specifically on mycelium-based materials, which offer a sustainable alternative to traditional leather. The goal of MycoWorks is to capture a significant share of the growing leather goods market by providing a high-quality, eco-friendly product.

Company Stage

Series C

Employees

201-500

Industries

Industrial & Manufacturing, Consumer Goods

Total Funding

$181.9M

Headquarters

Emeryville, California

Founded

2013


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Simplify's Take

What believers are saying

  • Growing demand for sustainable fashion boosts Reishi™'s market potential.
  • Partnerships with luxury brands like Ligne Roset enhance MycoWorks' market presence.
  • Expansion of production capacity in South Carolina supports scaling and demand fulfillment.

What critics are saying

  • Competition from companies like Bolt Threads and Ecovative may impact market share.
  • Dependence on luxury brand partnerships could affect sales if strategies shift.
  • Large-scale production investment risks if Reishi™ demand doesn't meet expectations.

What makes MycoWorks unique

  • MycoWorks offers Reishi™, a unique mycelium-based leather alternative for luxury fashion.
  • The company operates the world's first commercial-scale Fine Mycelium™ plant in South Carolina.
  • Reishi™ is integrated into high-end products like Blumera clutches and Nick Fouquet hats.

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Growth & Insights
Headcount

6 month growth

3%

1 year growth

5%

2 year growth

61%

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