Ecovative, a biotechnology company that produces alternatives for textiles, leather, food and packaging using plant-based solutions, recently raised a 60 million dollar capital, increasing its total capital to 100 million dollars.
The company uses mycelium, the root structure of mushrooms to provide environmentally friendly alternatives to plastics and animal-derived products. Among many of its eco-friendly products, Ecovative also produces mushroom-based leather which is one of the best sustainable leather alternatives available today.
This comes after luxury brand Hermès announced the launch of its Victoria travel bag in an eco-friendly version, made of mycelium. Stella McCartney also recently announced a line of products made with Mylo, a mycelium material.
With growing interest in plant-based solutions across fashion and many other industries, companies like Ecovative and materials like mycelium are of utmost importance.