New York-based biotechnology firm Ecovative has secured $11 million in funding to expand its mycelium-based product portfolio, with a focus on its spinout company MyForest Foods and its flagship product, MyBacon. MyBacon, made from mycelium, has seen strong sales performance in North America's natural retail channel, outperforming competitors by three times the category average. The product, distributed in over 1,200 retail locations across 45 states, contains five simple ingredients and is grown through a proprietary solid-state fermentation process.



The funding will support the scaling of production and packaging capabilities, the development of new mycelium products, and the launch of a dedicated food science laboratory. Ecovative plans to expand retail distribution to 4,000-5,000 locations by 2025, enter the foodservice sector, and continue innovating in the mycelium-based materials for consumer products through its Forager division. The company's sustainable approach to food production and product development has garnered recognition, including the 2025 FABI Award from the National Restaurant Association for MyBacon.