What is Mycodev Group?
Mycodev Group is a specialized producer of high-purity chitosan, derived from a pharmaceutical-grade fungal fermentation process. Their non-animal derived products offer superior purity and reduced contaminants, catering to diverse industrial needs. The company distinguishes itself by providing custom molecular weight and degree of deacetylation options, ensuring tailored solutions and consistent traceability for clients requiring high-standard chitosan for development and manufacturing purposes.
How much funding has Mycodev Group raised?
Mycodev Group has raised a total of $500K across 1 funding round:
Private Equity
$500K
Private Equity (2015): $500K with participation from New Brunswick Innovation Foundation
Key Investors in Mycodev Group
New Brunswick Innovation Foundation
The New Brunswick Innovation Foundation (NBIF) is dedicated to supporting and empowering entrepreneurs in New Brunswick by investing in early-stage startups and partnering with other investors to build venture capital. They focus on innovative technologies, particularly those addressing climate change, through their Climate Impact Fund and Innovation Voucher Fund. NBIF also hosts programs like the Breakthru Startup Pitch Competition to foster the next generation of global tech firms. Their mission is to enhance the profitability and competitiveness of SMEs in New Brunswick while propelling innovative ideas onto the global stage.
What's next for Mycodev Group?
The recent major strategic investment positions Mycodev Group for significant scaling and further innovation. This capital infusion is expected to accelerate the expansion of their production capabilities and potentially broaden their market reach into new sectors that demand high-quality, custom chitosan. The company's focus on pharmaceutical-like purity and customizable specifications suggests a strategic direction towards high-value applications, likely driving future growth and solidifying its market leadership.
See full Mycodev Group company page
