Foundation ifund and ROM Utrecht invest in MycoTEX

Foundation ifund with several co-investors, and Regional Development Company (ROM) Utrecht Region are investing in Soest-based MycoTEX. The start-up is developing a pioneering production technology for the fashion industry based on biomaterials such as mycelium (mushroom roots). Through this unique approach, MycoTEX creates products that require less energy, water and chemicals than conventional materials such as leather and textiles.

The investment will allow MycoTEX to further develop its materials and production method. This will work towards a pilot collection, to be released next year. In cooperation with a development partner, the production method will eventually be positioned as a fully-fledged alternative to existing techniques. In this way, the company aims to revolutionize the current production chain.

The ifund Foundation stimulates the transition to a sustainable world by supporting innovative social enterprises. Stichting ifund finances and supports entrepreneurs who focus on a sustainable and local supply of energy, food, water, or raw materials.

ROM Utrecht Region is a social investor that increases access to capital for innovative businesses in the region. The ROM invests in the major transition sectors that are important for tomorrow's economy: digital, health and sustainability. To realize financing for these businesses, the ROM works with many partners inside and outside the region.

Nathalie van Hellenberg Hubar assisted Stichting ifund in this transaction.