MadeRight, a start-up focused on developing sustainable alternatives to plastic packaging using fungi, has recently secured $2 million (€1.85m) in funding. This funding will be used to further advance the company’s fungi-based packaging innovation and reach key milestones in its development. Specifically, MadeRight plans to allocate the funds towards expanding its development team, refining the production process for its mycelia-based packaging technology, and supporting marketing efforts to enter new markets globally.
The investment was led by Fresh Start, an Israeli food processing and technology incubator, with participation from Arkin Holdings and Arc Impact. The company was founded by Rotem Cahanovitc, a mycology expert serving as CEO, and Yotam David, a molecular geneticist serving as CTO.
MadeRight is utilizing fungi as cell factories to produce high-value materials, with a focus on creating a recyclable plastic alternative from industrial organic waste. The company aims to strike a balance between performance and sustainability, overcoming the trade-off often seen with conventional materials. By leveraging fungi-derived materials, MadeRight is pioneering the production of novel solutions that offer both high performance and sustainability.
Traditionally, plastic packaging comprises various materials such as polymers, pigments, and fillers in different ratios. MadeRight’s fungi-based solution enhances the performance of these plastics. The company employs a solid-state fermentation process, where fungi transform waste into biomass. Through several biotechnological steps, MadeRight extracts materials from the biomass and incorporates them into plastics, creating pellets that can be seamlessly integrated into existing packaging manufacturing machines.
One of the key advantages of MadeRight’s approach is its impact on recyclability. With just 14% of global plastic packaging being recycled, largely due to additives that hinder the process, the need for sustainable alternatives is critical. MadeRight aims to replace these additives with sustainable fungi-based materials, facilitating higher recycling rates and reducing environmental pollution.
The demand for sustainable packaging solutions is undeniable, given the significant plastic pollution in oceans and limited global recycling rates. MadeRight’s goal is to develop a commercially applicable prototype for plastic and packaging producers by the end of 2024. This innovative solution has the potential to transform the food and beverage industry, aligning with current trends in food manufacturing, processing technology, distribution, and consumer preferences.
In conclusion, MadeRight’s funding boost will drive the development of its fungi-based packaging innovation, supporting its mission to create sustainable alternatives to plastic. With the potential to revolutionize the food and beverage industry, this eco-friendly solution aligns with industry trends and consumer demand for environmentally conscious products.