
Mycela
Creates self-growing, composite materials for art, interior and architecture.
Date | Investors | Amount | Round |
---|---|---|---|
* | NOK900k | Seed | |
Total Funding | 000k |
NOK | 2023 | 2024 |
---|---|---|
Revenues | 0000 | 0000 |
% growth | - | 1383 % |
EBITDA | 0000 | 0000 |
Profit | 0000 | 0000 |
% profit margin | (582 %) | (27 %) |
EV | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x |
R&D budget | 0000 | 0000 |
Source: Company filings or news article
Mycela AS, a Norwegian biotechnology firm established in 2020, operates at the intersection of material science and circular economy principles. The company was founded by CEO Renée Isabel Jung, a molecular biologist and mycologist, and COO Sondre Eng, who also specializes in biology and mycology. Their combined academic and laboratory experience from institutions like the University of Oslo underpins the company's scientific foundation, driven by a shared interest in leveraging fungi for environmental solutions.
The core business of Mycela involves transforming low-value organic waste, such as wood chips, cardboard, and agricultural byproducts, into high-performance, fully biodegradable materials using mycelium—the root structure of fungi. This process utilizes the mycelium as a natural, self-growing binder, eliminating the need for synthetic glues or chemicals. The resulting composite materials are lightweight, strong, and possess natural properties like water repellency and insulation for sound and temperature. After a growth phase in molds to create specific shapes, the products are heat-treated to stop the growth process, ensuring stability.
Mycela's business model is primarily B2B, targeting architects, designers, and builders who require sustainable material alternatives for interiors, art, and architectural applications. The company's revenue streams are diversified across several activities. It engages in collaborative projects with design and architecture firms to produce bespoke prototypes and objects like decorative interiors and sound-absorbing panels. Additionally, Mycela offers consultancy services, including in-depth lectures and hands-on workshops on biomaterials and mycelium technology. A significant part of their operation is dedicated to research and development, often in partnership with universities and research organizations, to continuously improve the material's quality and performance.
The company's mission is to accelerate the transition to a circular built environment by providing materials that are not only created from waste but can also be safely composted at the end of their life, returning nutrients to the soil. This model addresses the environmental impact of traditional manufacturing by upcycling waste, sequestering carbon, and eliminating production offcuts, as the materials are grown directly into their final shape.
Keywords: mycelium materials, biomaterials, circular economy, sustainable architecture, interior design materials, biotechnology, mycology, waste upcycling, biodegradable materials, acoustic panels, composite materials, sustainable building materials, green technology, fungi-based products, Oslo startup, material science, regenerative design, carbon sequestration, eco-friendly materials, natural binder, product design, custom fabrication, R&D partnership, consultancy