Mykor raised €4.6 million (£4 million) in a funding round led by Clean Growth Fund. The capital injection also included participation from the British Business Bank’s South Investment Fund via The FSE Group, Green Angel Ventures, and support from Innovate UK’s investor partnership programme.
The Bristol-based startup develops low-carbon construction materials using industrial and agricultural waste. By combining engineered mycelium with green chemistry, the company manufactures products such as MykoSIP, a preassembled partition wall designed to reduce embodied carbon compared to traditional materials. Its proprietary biofabrication process is designed to integrate into existing industrial production lines rather than relying on centralised manufacturing.
The new investment brings Mykor’s total funding to €8.6 million, comprising €6.3 million in equity and €2.3 million in grants. Co-founded in 2021 by CEO Olivia Page and Valentina Dipietro, the company intends to use the capital to scale its industrial biofabrication technologies and expand partnerships with major contractors and global manufacturing firms.
As the built environment accounts for nearly 40% of global emissions, Mykor’s ability to swap high-carbon insulation for waste-derived alternatives aligns with a growing investor appetite for European biotech firms tackling heavy-industry decarbonisation.
Originally reported by EU-Startups Daily.