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MycoTechnology has raised $85 million in a Series E funding round, bringing its total fundraising to date to more than $200 million. Colorado-based MycoTechnology creates functional food ingredients from the root-like fungus structure, mycelium. The company uses a proprietary fermentation process to create novel ingredients addressing areas such as sugar reduction, sustainable protein and nutrient density. Its ingredient portfolio includes FermentIQ protein, a line of plant-based protein products, and ClearIQ, a range of flavour modulation tools that facilitate sugar and salt reduction. The Series E round was led by a group affiliated with Oman Investment Authority (OIA). In addition, the round included Rage Capital, Siddhi Capital, S2G Ventures, Tyson Ventures, Continental Grain Company, Bunge Ventures and Maple Leaf Foods, among others. Aiming to achieve ‘global scale,’ MycoTechnology says it is now positioned to bring its product portfolio to more consumers. The company plans to focus on expanding in Europe, Asia and the Middle East. Alan Hahn, CEO and co-founder of MycoTechnology, said: “This fundraise is a validation of the potential of our breakthrough proposition and next-generation ingredients. It will be a catalyst to accelerate our growth further and faster. “The investment will power the imagination of our incredible team, driving our plans to add more new-to-the-world ingredients from the fungal kingdom.”