Biotechnology firm secures £4 million to scale production

A Bristol biotechnology company is set to scale its low-carbon construction systems with £4 million funding.

Mykor, which turns industrial and agricultural waste into construction products, has raised the investment to accelerate the growth of its industrial biofabrication technologies.

The round was led by Clean Growth Fund, with participation from the British Business Bank’s South West Investment Fund through The FSE Group, Green Angel Ventures and support from Innovate UK’s investor partnership programme.

The latest raise takes Mykor’s total funding to £7.5 million, including £5.5 million in equity investment and £2 million in grant funding.

Mykor uses engineered mycelium strains, green chemistry additives and automated manufacturing processes to grow building products from waste streams within days.

Its first product, MykoSIP, is a preassembled partition wall designed to reduce embodied and operational carbon while maintaining fire safety, cost, buildability and acoustic performance.

Mykor says the system can deliver estimated carbon savings of at least 50 per cent compared to existing products, while using less water and electricity than polystyrene alternatives.

The company is already working on live construction projects and has secured offtake agreements worth £338 million with UK and European contractors.

Bosses say the funding will support the scale-up of production capacity and help establish a replicable manufacturing model that can be deployed across key UK and international markets.

Olivia Page, Mykor co-founder and chief executive, said: “We’ve built Mykor around the idea that decarbonising construction cannot come at the expense of cost, performance or practicality. 

“The challenge has never just been inventing a biomaterial – it’s been manufacturing these systems at industrial scale and integrating them into real construction supply chains. 

“This funding allows us to scale that model further alongside major contractors and manufacturing partners globally. 

“We’re very pleased to be working with investors who understand both the urgency of the problem and the scale of the opportunity ahead.”

Susannah McClintock, Clean Growth Fund investment partner, added: “Mykor addresses one of construction’s most pressing challenges: reducing embodied carbon without adding cost or complexity. 

“Their solution integrates seamlessly into existing building practices and is cost-competitive with conventional materials – delivering meaningful carbon savings without adding cost. 

“We’re delighted to support this exceptional team as they scale commercially.”

Anna Staevska, The FSE Group investment manager, added: “We’re delighted to provide this investment from the South West Investment Fund to support genuinely breakthrough materials science in the delivery of meaningful carbon reductions. 

“With strong commercial interest already in place and a clear plan to scale production, Mykor is well-positioned to play a significant role in decarbonising the built environment while building a high-growth, internationally relevant business.”

Surakat Kudehinbu, Green Angel Ventures senior investment executive, added: “We have been consistently impressed by Olivia, Valentina and the entire Mykor team’s progress and their dedication to transforming how we build. 

“Their innovative approach to bio-based insulation is exactly the kind of disruptive technology needed to decarbonise the built environment. 

“Green Angel Ventures is delighted to provide this follow-on funding to help Mykor scale its production and meet the growing demand from the construction industry.”

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