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The Big One A breakdown on the day's biggest Inno story. Magic Mushrooms Mushrooms are often used in an omelette or pasta dish, but were you aware they could be used to block bitterness in food or create a plant-based protein?
Me neither.
Aurora's MycoTechnology announced yesterday that the company closed a $30M Series C with major investors from across the food industry, bringing its total funding to just over $82M.
The round was co-led by S2G Ventures Fund II, Middleland MT Holdings, ADM Capital's Cibus Fund and TML-Invest S.à r.l. with participation from Tysons Ventures, Bunge Ventures Limited, Continental Grain Company, Kellogg's and DNS-Hiitake.
MycoTechnology has found inventive ways to use mushrooms to reach desired tastes and nutritional targets.
The company's flagship product, ClearTaste, is derived from mushroom extract and acts as a shield for your tongue, temporarily blocking bitter tastes. By blocking bitter tastes, sugar becomes less of a need as a food ingredient for companies.
MycoTechnology's second product, PureTaste, is a plant based protein, made using a shiitake mushroom fermentation process.
[For more on MycoTechnology and how the company will use the new funding round, check out our story here.]
Making Moves Inside the people, companies and organizations making moves today. New Member at Catalyst HTI It seems like Denver healthcare hub Catalyst HTI is announcing new members every day.
SOI Sales, a consulting firm focused on increasing sales efficiencies and revenue, announced its membership to Catalyst HTI in RiNo.
"Over the last few years, I had heard about the exciting vision Mike Biselli had for the Catalyst HTI community and the healthcare industry," said Sean Kelly, CEO of SOI Sales. "Thus, being at the center of healthcare collaboration was an easy decision for SOI Sales." Retirement Planning Vergent Products, a Loveland-based electronics manufacturing company, announced that Jay Dokter has been named president and CEO of the company.
The move comes as founders Terry and Diana Precht plan for retirement. At a minimum, Terry plans to remain involved in the business for another two to three years, according to a release.
Prior to joining Vergent Products, Dokter was CEO of video assessment startup Bongo, co-founder of the Warehouse Business Accelerator, CADEKA Microcircuits, Yellow Duck Investments and Data Entry Products.
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