Quorn Foods, a leading producer of vegan frozen food, has partnered with Prime Roots, a developer of meat alternatives from Koji, with an undisclosed investment. The investment was a part of Prime Roots' recently closed USD 30 million Series B round.

Through the partnership, the companies will collaborate on mycelium-based product development and the expansion of their portfolios and market reach.

Analyst QuickTake: Mycelium—the vegetative part of a fungus or fungus-like bacterial colony—has been gaining popularity over the last couple of years as a sustainable alternative meat ingredient. Due to the naturally occurring structure of mycelium, producers can develop meat alternatives with a meat-like fibrous structure with minimal processing. Mush Foods , Bosque Foods , Sempera Organics , and The Better Meat Co are some companies that have unveiled mycelium-based products and ingredients over the past few months.