Mykor Raises £4M to Scale Fungi-Grown Construction Materials from Waste

The injection brings Mykor’s cumulative funding to £7.5 million, split between £5.5 million in equity investment and £2 million in grant funding . For context, a previous seed round in 2024 raised £960,000, so this latest raise is roughly four times larger and marks the company’s biggest capital injection since it was founded in 2021 .

Mykor was co-founded by Olivia Page and Valentina Dipietro, the latter recognised as a Forbes 30 Under 30 honoree and a UN Young Champion of the Earth .

How the biofabrication technology works

Mykor’s core process is biofabrication—a combination of mycelium (the root structure of fungi) and green chemistry that turns agricultural and industrial waste into rigid building materials . The feedstock includes cellulosic residues from paper production and farming, materials that would otherwise be incinerated or sent to landfill .

The manufacturing claims are significant. Compared with expanded polystyrene (EPS), Mykor’s approach uses 90% less water, 40% less energy, and generates 60% less CO₂ emissions . The end materials also offer breathability, moisture resistance, and fire-retardant properties .

MykoSIP: the first commercial product

The product leading Mykor’s commercial push is MykoSIP, a prefabricated structural insulated partition wall system. It is grown entirely from fungi, agricultural waste, and industrial residues . According to the company, MykoSIP delivers approximately 60% less embodied carbon than conventional partition wall systems, equating to a saving of roughly 23 kgCO₂e per square metre .

Before MykoSIP, Mykor developed MykoFoam, a rigid acoustic and thermal insulation sheet. MykoFoam remains in the portfolio and is targeted at interior applications—it can be left exposed or concealed—but its commercial path has been more gradual . A separate loose-fill insulation product is also in the works with support from Innovate UK .

Perhaps the most striking figure alongside the product launch is commercial traction: Mykor says it has already secured £337 million in commercial agreements with contractors and developers across the UK . This forward order book gives the company a tangible runway beyond the lab.

Scaling across the UK and Europe

The new capital is earmarked for scaling manufacturing and building a replicable production model that can be deployed in the UK and across Europe . Mykor currently runs a pilot plant in Portugal and is establishing a joint-venture production facility in Belgium as it transitions to commercial output . The company’s goal is to support the growing pool of manufacturers and contractors actively looking for lower-carbon materials they can specify at commercial volumes .

By pairing proprietary biotech with waste streams that are already abundant, Mykor is aiming to offer a route to genuinely circular construction materials. The next stage will be proving that the production model can meet the fire, acoustic, and performance standards that mainstream construction demands—and that it can do so cost-effectively at scale .