Novo Holdings participates in USD 45 million Series B investment in MycoWorks, creator of Reishi Fine Mycelium™ for luxury fashion and footwear brands

  • Proprietary biotech platform developing natural, non-animal leather material using patented Fine Mycelium™ technology
  • Funding coincides with opening of new Reishi™ production plant and will allow for further scaling of the business
  • Investment in line with Novo Holdings philosophy of investing in highly innovative, scalable companies in bioindustrials with a commitment to sustainability

Copenhagen, Denmark, 17 November 2020 – Novo Growth, the growth equity arm of Novo Holdings, an investment and asset management company, today announced its renewed commitment to California based MycoWorks, creator of Reishi™, a leading natural, non-animal leather material, through its participation in a USD 45 million Series B financing alongside a strong syndicate of existing and new investors.

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By Optimum

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