Mycelium building materils provider Myceen is advancing a seed investment round of €1-1.5 million. The funding will be used for the company to transfer to a larger production space.

Backers include Enterprise Estonia, Estonian Research Council, German Ministry of Culture and EIT Climate KIC. As Europe is moving closer to achieve its climate goals all industries need to bring down their emissions 55% by 2030 and achieve carbon neutrality by 2050.

In the next stage, Myceen will move into a pilot factory where it will develop and launch industrial production technology. This expansion will enable the company to broaden its product range and advance the commercialization of mycelium-based building materials – the company has several house producers and resellers waiting for the material.

Around 75% of EU buildings are inefficient. The target is to renovate 35 mln houses by 2030 for carbon neutrality of buildings. In cities like Paris and London, properties must meet specific energy standards to be rented or sold, a trend that’s becoming more common as we approach the Climate Goals deadline. This shift creates a significant market opportunity for renovation, particularly for sustainable insulation materials.

Myceen started from the design sector while keeping its research focus on building materials where the mass scale application and impact lies. Last year, the company shipped its products to over 15 countries from the US to Singapore receiving high recognition. 

Backer Eve Peeterson, Head of Startup Estonia, commented: “Over the past years, I’ve seen Myceen experience rapid growth. I believe there’s immense potential in the novel mycelium-based materials and innovative products they’re developing. I’m excited to see what Myceen accomplishes next as they continue to conquer new markets.”

Client, Petko Tashev, Co-Founder & Managing Director The Home of Sustainable Things, added: “While Mycelium isn’t a novel material to us, Myceen’s design range is something to behold. Over the years, we have seen many designers attempting to tame this incredible, regenerative material and failing to do so. However, Myceen’s consistency, quality, and style not only set this range apart but have also elevated mycelium design to levels previously unimagined.”

In an upcoming project Myceen’s insulation materials are tested in a pilot house in collaboration with Timber Architecture Research Center (PAKK). The test house will be ready in autumn 2024 and mycelium insulation performance will be measured and compared with conventional materials. This will give necessary feedback to move forward with house producers who are already waiting in line.