MyForest Foods

MyForest Foods (formerly known as Atlast Food) is a startup producing plant-based meat alternatives using whole cuts of mushroom mycelium. The company is a spin-out of Ecovative Design, a firm that creates packaging and foam products using mycelium. The name change was to reflect the company’s entry into the alternative meat space. 

The company uses the proprietary “AirMycelium” vertical farming technology developed by Ecovative, which uses a “wet wood chip slurry” and oyster mushroom cells to create the media from which the mycelium grows out. The company then cultivates protein-rich mushroom mycelium slabs that can be cut into different shapes. In December 2020, the startup launched its flagship product, “MyBacon,” at the Honest Weight Food Co-op in Albany, New York. 

In July 2022 , the company announced the opening of a new 120,000 sq ft vertical mycelium farm and production facility. The facility was stated to be the largest facility of its kind–capable of producing up to 3 million pounds of product annually when fully operational. It will also be used to achieve the company’s goal of serving more than one million consumers by 2024.

Key  customers and financials

The company claims it has already (as of August 2022) sold all of its production until 2023 to B2B partners. In July 2022, the company further expanded its distribution network in Massachusetts by partnering with Berkshire Food Co-op and Cornucopia Natural Wellness Market. 

Funding and financials

In its latest funding round in June 2023 , the company raised USD 15 million in a Series A-2 funding round led by Ecovative Design, the parent company of MyForest Foods. The funds were earmarked for the expansion of retail and food service presence as the company increases its footprint across the Eastern Seaboard, including New York City.