Infinite Roots Secures $58M Series B Funding for Mycelium-based Products

Infinite Roots (IR), formerly known as Mushlabs, a German biotech company, has successfully closed a $58 million Series B funding round. The company, which specializes in mycelium, the material derived from fungi with various applications such as food and building materials, is now one of the largest investments in the technology in Europe to date.

Dr. Hans Riegel Holding (HRH), a confectionery group Haribo's holding company, led the funding round. Other participants included the Europe Investment Council fund, REWE Group, Betagro Ventures, and existing investors such as Clay Capital, FoodLabs, Redalpine, Simon Capital, and Happiness Capital. 

IR plans to focus on commercial growth, expand production capacities, and invest in launch activities.