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To infinity and beyond - $58 million for Infinite Roots in record-breaking Series B round

Infinite Roots managing team Cathy Hutz, Philip Tigges, Mazen Rizk, and Thibault Godard

Infinite Roots (RAC IV), the Hamburg-based mycelium fermentation FoodTech formerly known as MushLabs, today announced its record-breaking $58 million Series B round. Dr. Hans Riegel Holding (HRH) led the round, joined by Rewe Group, the EIC Fund, Betagro Ventures, alongside existing investors including Food Labs, Clay Capital, and others. We are excited to have doubled down on our support by also participating in the round.

This sizable funding, coupled with the commercial and consumer expertise from HRH and Rewe Group, marks a crucial milestone for Infinite Roots and sets the stage for expanded production capacities and global launch activities. The round also stands as Europe's most substantial investment in mushroom root (mycelium), underscoring strong confidence in Infinite Roots' products and technology.

It aligns with the growing interest in fermentation technologies and sustainable consumer products across Europe, which Svetoslava Georgieva, Chair of the EIC Fund Board, emphasized: “It is high time for consumers to be able to reconcile their appetite for good food and their willingness to act for the planet and for their health.”

Since Redalpine invested in Infinite Roots in 2020, the startup has quickly established itself as a pioneer in the field of meat alternatives and advocated for sustainability through a food system “revolution” at COP28 in Dubai. The latest round brings their total funding to $87.2 million.

Dr. Mazen Rizk, Infinite Roots co-founder, and CEO, said about the investment: “Rethinking food production and consumption has never been more pressing and requires our collective efforts. We are thrilled to join forces with industry champions to establish the next generation of tasty, healthy, and sustainable foods. We are in a unique position to define a new era of mushroom mycelium-based products.”

Congratulations to co-founders Mazen Kizk, Anne-Cathrine Hutz, Thibault Godard, and the rest of the team on this milestone!

Read more in this article on Sifted.


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