MycoWorks
MycoWorks makes Reishi, a premium leather alternative grown from mycelium using its patented Fine Mycelium process, for luxury fashion and interiors. Founded in Emeryville, California in 2013, it raised more than $200 million and opened a commercial-scale plant in Union, South Carolina in 2023. That plant closed in October 2025; the company became insolvent weeks later and was liquidated through an assignment for the benefit of creditors. DFX Corp acquired the business and its Fine Mycelium technology in January 2026, holds the intellectual property in MycoWorks Denver, LLC, and reopened the Emeryville innovation center in June 2026 to scale production.
Acquired
MycoWorks has been acquired
This company is no longer available on our private secondary market.
Overview
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2013
Total Funding
$224.1M
6 rounds
Secondary Signals (Note: SetterVC does not verify the accuracy of these)
3 signalsDFX Corp reopened the Emeryville MycoWorks Innovation Center, launching Phase II of its plan to scale Fine Mycelium production
Operations restart after the ABC liquidation; no capital raised or terms disclosed.
Acquired by buyout firm DFX Corp after closing its South Carolina plant; restructuring under Daniel Frydenlund, co-founders stay on as guides.
Change of control after plant closure; prior private-market holdings likely impaired, little liquidity.
Post-acquisition leadership restructured: Maud Ohler to lead tech development, founders shift to advisory guidance
Leadership uncertainty during change-of-control adds execution risk for holders
Funding
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $224.1M across 6 rounds
Last updated 10-09-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Jul 9, 2024 | Series D-II | Not disclosed | — | |
| Oct 3, 2022 | Series D | $37.1M | — | |
| Jan 13, 2022 | Series C TechCrunch | $125M | — | Prime Movers Lab |
Prominent Investors
Leadership
Maud Ohler
Senior Vice President of Technology
Philip Ross
Co-Founder, Advisor
Sophia Wang
Co-Founder, Advisor
Competitors
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Bolt Threads
Sustainable biomaterials company producing spider silk-inspired fibers and materials.
Modern Meadow
Biofabrication company producing lab-grown leather alternatives.
Ecovative
Biotech company producing mycelium-based materials for packaging and textiles.
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