South Korean firm working to make mushroom-based biomaterials

South Korean start-up Mycel is working on producing fungal-based biomaterials that can replace leather and meat. According to co-founder and CEO Sungjin Sah, the process uses mycelium, a root-like fungus structure, to make leather substitutes that can be used in car seats and luxury cosmetic products, and fashion products like shoes, clothes and bags.

Mycel is currently in talks with global cosmetic brands to co-develop the mycelium-based leather products as well as cosmetics ingredients, with the aim of commercialising its mushroom leather in 2023. The company has raised US$10 million in a pre-Series A round of funding.