Ecovative Secures Over $11 Million as its Mycelium Products Gain Momentum in Food, Materials, and Wellness
Award-winning and fastest-selling plant-based bacon now available in over 1,200 retailers across 45 states and territories in North America as Ecovative also celebrates the commercial debut of mycelium materials in health and wellness category
GREEN ISLAND, NY — March 27th, 2025 — Ecovative, the world's premier mycelium technology company, today announced it has secured over $11 million in its latest funding round to fuel the explosive growth of My®Bacon, the flagship product of Ecovative’s spinout company MyForest Foods. The investment comes as MyBacon rapidly expands its retail footprint to more than 1,200 grocery retailers nationwide. The funding supports the addition of a new production and packaging line for MyBacon, and a new MyForest Foods Food Science Lab to launch new whole-cut mycelium products in stores.
MyBacon is now the fastest-selling plant-based breakfast item in the natural channel, outperforming the entire category with three times the average sales velocity. In addition to retail expansion, MyBacon is now available direct-to-consumer through Hungryroot, Purple Carrot, and Good Eggs, allowing even more customers to experience the product's unique combination of taste, texture, and nutrition delivered directly to their door.
A Matter of Good Taste: MyBacon's Award-Winning Journey
Nexty Best New Vegan Product
Progressive Grocer Editors Choice Award
KeHE On Trend Award
VegNews Best of Show
FABI Award
MyBacon continues to demonstrate exceptional consumer demand in over 1,200 retailers, across 45 states, Puerto Rico, the U.S. Virgin Islands, British Columbia, and Jamaica, with expansion through both retail partners and direct-to-consumer channels.
Find MyBacon: Growing Retailer Directory
Whole Foods Market
MOM's Markets
Erewhon
Fresh Direct
Fairway Markets
Purple Carrot
Good Eggs
Earth Fare *newly added
Northwest Grocers *newly added
Hungryroot *newly added
MyBacon’s Recipe for Success
MyBacon's impressive market performance stems from Ecovative's groundbreaking AirMycelium® platform. This pioneering technology combines certified organic farming practices with advanced mushroom growing technology, leveraging decades of Ecovative’s mycelium research and development to create a breakthrough manufacturing platform that produces proteins in less than two weeks while requiring minimal land and resources.
"Our AirMycelium® platform enables us to grow high-performance products that meet real market needs, from delicious whole-cut proteins to next-generation materials for fashion and wellness," said Eben Bayer, Ecovative's CEO. "This investment accelerates our ability to scale these technologies globally while revitalizing existing agricultural infrastructure and creating high value, meaningful products consumers actually want."
With just five simple ingredients – organic mycelium, salt, sugar, coconut oil, and natural flavors – MyBacon stands apart in a market dominated by hyper-processed alternatives. Consumers increasingly demand clean labels and transparency about where their food comes from, which has become the secret sauce to MyBacon's remarkable success.
Forager by Ecovative: Mycelium Applications in Fashion and Wellness
Beyond food, Ecovative's Forager division is now bringing mycelium to wellness products through a partnership with GOB. Their first collaboration—100% home-compostable earplugs with 20dB noise reduction—contains no harmful chemicals and offers superior comfort. Using Ecovative's AirMycelium® Platform with a material-optimized mycelium strain, GOB (recognized as one of Fast Company's Most Innovative Companies of 2025) demonstrates the versatility of this rapid-growth technology beyond food applications.
The new capital, secured through an internal funding round alongside Ecovative's first-ever Albany County Award of $1.68 million in combined grant and loan funding from the Advance Albany County Alliance, will primarily support increased production capacity for MyForest Food's My®Bacon Strips. This strategic investment enables the company to meet surging consumer demand as it continues its nationwide distribution expansion. Additionally, the funding will enhance research and development in the company's Forager division, accelerating performance innovations in mycelium materials for fashion and wellness applications that share the same core technological platform with different specialized strains.
About Ecovative
Since its founding in 2007, Ecovative has emerged as the world's premier mycelium technology company, harnessing the power of biology to transform industries ranging from food and fashion to packaging and construction. Ecovative is the global leader in patenting technologies related to mycelium manufacturing and innovation, underscoring its leadership in harnessing the power of biology to transform industries. Through cutting-edge mycelium biofabrication processes, Ecovative creates materials that outperform traditional alternatives in terms of durability, functionality, and efficiency. The company's groundbreaking innovations have captured the attention of major media outlets and have been reinforced through strategic partnerships with industry leaders. With a relentless focus on research, commercialization, and scalability, Ecovative is delivering unparalleled performance through the power of biology.
