FSP’s Private Equity & Venture Capital Team has advised the South West Investment Fund, acting by its fund manager The FSE Group, on its equity investment into Mykor as part of a £4 million funding round. The funding round brings Mykor’s total funding raised to £7.5 million.
Mykor is a biotechnology company developing low-carbon construction materials using agricultural and industrial waste streams. The company has developed proprietary bio fabrication technologies that enable the production of sustainable construction products at commercial scale, helping to address the construction industry’s growing need for lower-carbon building materials.
The investment will support the continued scale-up of Mykor’s manufacturing capabilities and the deployment of its industrial bio fabrication technologies across key markets.
Olivia Page, CEO and co-founder of Mykor, said: “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”.
Anna Staevska, Investment Manager at The FSE Group 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.”
The FSP team was led by Partner and Head of Private Equity & Venture Capital, Penelope Garden with assistance from Solicitor, Lauren Lashley.
