Mogu raises €11 million in series A funding round supporting further industrialisation of its mycelium-based technologies

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Mogu Srl, Italy-headquartered company which transforms low-value materials and residues from agro-industry into functional and high-value products, has successfully secured the backing of CDP Venture Capital, European Circular Bioeconomy Fund (ECBF VC), Kering Ventures, and Progress Tech Transfer, as part of a € 11 million series A funding round, who have taken equity stakes to allow for further industrial scaling of the company’s technologies behind their key verticals and brands, EPHEATM and MOGU.

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Mogu launched the new biomaterial EPHEA, as part of Balenciaga’s Winter 2022 runway show

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Courtesy of Balenciaga

Mogu Srl, the Italian material innovation company that commercializes bio-fabricated and circular products for interior architecture and green building, launched EPHEA™️. The market launch took place last Sunday as part of Balenciaga’s Winter 2022 runway show, at Paris Fashion Week, during which the brand presented an unprecedented floor-length coat realised with EPHEA™️.

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An interview with Stefano Babbini, CEO of the Italian SME Mogu

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“I believe that EC and the Member States should really work with the aim of promoting such innovative and sustainable products, sustaining the market entry phase, especially in those market segments characterized by low margins and hard competition (such as building and textile sectors).” To say it – in this interview with Il Bioeconomista – is Stefano Babbini, co-founder and CEO of Mogu, an Italy-based SME which is exploring the potential of mycelium-based technologies in several application sectors. He talks with us about the company’s main business, the bioeconomy at European level and the BBI JU demo project Grace, where the Italian company is applying its technology to the hemp and miscanthus value chains.

Interview by Mario Bonaccorso

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