Leading German BioTech startup Infinite Roots, formerly known as Mushlabs, has announced the conclusion of its €53 million Series B investment round, marking a significant milestone in Eco-Friendly Nutrition.
About Funding Unleashes Eco-Friendly Revolution
The oversubscribed funding round demonstrates mycelium’s growing significance in the global food system and marks the greatest investment in mycelium technology in Europe to date.
It was headed by Dr. Hans Riegel Holding (HRH), one of the two holding companies of the globally successful candy company Haribo, and it was made possible by the European Commission’s ground-breaking EIC Fund, which provides direct equity investments in highly innovative European startups and SMEs. Participating in the round were Betagro Ventures and REWE Group, two of the top commerce and tourist organizations in Germany and Europe. Additional investors, such as Clay Capital, FoodLabs, Redalpine, Simon Capital, and Happiness Capital, joined them. With the help of these investors, Infinite Roots enlists business associates who have experience introducing and marketing culinary goods all over the world.
Capital Fuels Global Expansion
Moreover, with this additional capital, the business enters a new commercial expansion phase, with plans to increase production capacity and fund global launch initiatives. By leveraging the versatile applications of mycelium, Infinite Roots aspires to play a substantial role in reshaping the global food chain over time.
Dr. Mazen Rizk, the founder and CEO of Infinite Roots, stated:
“The need to reconsider food production and consumption is greater than ever, and it calls for our combined efforts. We are excited to collaborate with leaders in the industry to create the upcoming range of delicious, healthful, and environmentally friendly foods. We have a unique opportunity to usher in a new era of products made from mycelium in mushrooms. Moreover, with the technology and products of Infinite Roots, we hope to lead the historic shift to a more sustainable and healthy food system.”
By enlisting HRH, Infinite Roots gains a reliable business partner with global experience introducing goods into expanding consumer markets. Furthermore, the vegan core product market is already dominated by REWE Group, the second-largest food retailer in Germany with operations in over 21 countries, with over 20 percent of the market. The confidence in Infinite Roots’ technology and products is further fortified by these strategic investments. This support is particularly crucial as it aligns directly with the surging consumer demand for sustainable food alternatives.
Dr. Reinhard Schneider, MD of Dr. Hans Riegel Holding GmbH’s said:
“The mycelium technology developed by Infinite Roots holds great promise for a sustainable food supply. At Dr. Hans Riegel Holding, we make investments in cutting-edge technologies”
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Svetoslava Georgieva, Chair of the EIC Fund Board, highlighted the potential of the recent development and said:
“We are looking forward to the exciting road ahead with the Infinite Roots team. It is past time for consumers to be able to balance their desire for delicious food with their readiness to take environmental and health-related action.”
Distinguished for groundbreaking strides in mycelium technology, Infinite Roots is asserting leadership in crafting Eco-Friendly Nutrition from mushroom mycelium. Furthermore, its unique methods enable the creation of a diverse range of adaptable food products. The success of this funding round highlights Infinite Roots’ potential and capacity to attract reliable partners in advancing eco-friendly nutrition through mycelium technology.
In tandem with plant-based and cultured meat, mycelium fermentation technology emerges as a transformative force in the food industry, recognized as a megatrend in Eco-Friendly Nutrition. Infinite Roots’ products, rooted in mushrooms and neither plant- nor animal-based, pioneer a distinct third category in the food classification system. The global surge in demand for healthier food options finds fulfillment in Infinite Roots, providing a diverse range of nutritious, sustainable foods that extend well beyond mere meat alternatives.
