Mycel, a South Korean startup making fungal-based biomaterials that can replace leather and meat, said it has raised $10 million (13 billion WON) in a pre-Series A round of funding.
Co-founder and CEO of Mycel Sungjin Sah told TechCrunch that the company uses mycelium, a root-like structure of mushroom, to make leather substitutes that can be used in car seats and luxury cosmetic products, and fashion products like shoes, clothes and bags. Mycel is in talks with global cosmetic brands to co-develop the mycelium-based leather products as well as cosmetics ingredients, Sah said, adding that it aims to commercialize its mushroom leather in 2023.
The Seoul-headquartered startup will use this new funding to …
