|By PR Newswire||
|February 19, 2014 09:45 AM EST||
AURORA, Colo., Feb. 19, 2014 /PRNewswire/ -- Aurora, Colorado-based MycoTechnology, Inc. announced today that its second round of investment funding has been successfully closed. "Our second round of funding was oversubscribed with a very high level of interest from institutional investors," says Alan Hahn, CEO of MycoTechnology. This concludes a highly successful first year for the start-up as it was able to surpass all its initial goals and looks forward to another ground-breaking year.
Mycotechnology is defined as the role of fungi in biotechnology. MycoTechnology, Inc. was founded in March of 2013 for the purpose of developing a proprietary, all-natural bio-process to improve the taste of target foods and to make them healthier. This process utilizes the ability of mushrooms to selectively consume bitter compounds in foods, resulting in better tasting products.
According to Peter Lubar, COO of MycoTechnology, "This year has exceeded all our expectations. Not only were we able to develop our ReishiSmooth™ process but we were able to complete two rounds of investment funding in far less time than expected. This will allow us to bring on more scientists to move our process into other targeted foods, as well as ramp up supporting departments such as accounting and sales. We are looking forward to announcing something exciting with chocolate soon."
The first process developed by MycoTechnology, Inc., named ReishiSmooth™, uses healthy Reishi mushrooms to improve the taste of coffee. The process also imparts the health benefits of the mushroom into the foods with Beta-Glucans. In the case of coffee, it results in a sweeter and more full-bodied product that contains Beta-Glucans which are known to help fight cancer and activate the human immune system.
Several companies have begun to utilize MycoTechnology's process to improve their coffees. For information on where to buy coffee processed by MycoTechnology, Inc. visit the company's website at www.mycotechcorp.com and select the "Where to Buy" button.
SOURCE MycoTechnology, Inc.
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