A new frontier in biotechnology just crowned its next pioneer. Out of 187 groundbreaking startups from 59 countries, Michroma wins the The Future is Fungi Award 2025, taking home €250,000 / USD 289 000 in investment.

2) Top 3 Winner PICTURE - The Future is Fungi Award 2025

The US and Argentina-based foodtech startup is replacing petrochemical coloring with fungibased natural ingredients, launching a world-first sustainable platform for food flavors and colors.The top three startups gain access to a world-class network of partners including L’Oréal, Novonesis, BASF, and Stanford University.

The Future is Fungi Award, which is partnered with Applied Microbiology International, honors groundbreaking innovations using fungi to regenerate the planet, from circular materials and climate repair to next-gen biotech. It spotlights visionary solutions such as waste-based fungal composites, mycelium biomaterials and fungal technologies for carbon capture, energy storage and green chemistry.

As demand for regenerative products grows, mycelium is emerging as a cornerstone of the bio-based economy to tackle some of the planet’s most urgent environmental challenges.

Mycelium innovations

Mycelium is driving the next wave of sustainable materials, agriculture, and circular economy solutions. Europe is emerging as a hub for fungal biomaterial innovation, holding nearly a third of the global market, while North America leads in scale, investment, and fungal remediation, and Asia-Pacific grows rapidly as an emerging market.

The global mycelium materials market is projected to rise from USD 2.9 billion in 2024 to USD 5.2 billion by 2034 (~6.1% CAGR), with Europe (~31–41%) and North America (~38%) leading production and capacity. Fungi-based agricultural microbials are expected to grow from USD 194 million to USD 664 million by 2031 (~19.2% CAGR), and fungal remediation/bioremediation is set to reach USD 1.95 billion by 2030 (~16% CAGR), highlighting fungi’s rapidly expanding economic impact*.

READ MORE: The Future is Fungi Award: showcasing the fascinating problem-solving scope of fungi

READ MORE: Single-celled fungi could assimilate CO2 and change the world

”We’re witnessing a global awakening around fungi’s potential to power a new industrial revolution, one designed by nature itself. Startups like Michroma are creating the future of industrial biofactories replacing petrochemicals in food, by redefining the healthy quality of everyday ingredients and how we can leverage nature itself for more sustainable and healthier alternatives,” says Susanne Gløersen, founding CEO of The Future is Fungi Award.

 

Startup winner

US and Argentina-based foodtech startup Michroma impressed the international jury with its breakthrough disruption of the world’s first sustainable platform and replacing petrochemicals with the next generation food flavors and colors ingredients made by fungi. Modern consumers drive the demand for products that are more healthful and sustainable.

”We’re honored to win The Future is Fungi Award 2025—the world’s leading recognition dedicated exclusively to fungal innovation. Being selected by a jury that evaluates the most advanced fungi-based technologies validates our approach of using filamentous fungi to build a new generation of natural colorants. This award strengthens our mission to replace artificial colors with high-performance, fungi-derived alternatives, and it accelerates the scale-up of fungal biofactories as a core solution for a healthier and more sustainable food system,” says Ricky Cassini, CEO & Co-founder of Michroma.

Next gen fungi bioingredients

The runner-up is Mycolever, a German-based startup that produces next-gen fungi bioingredients to enable performant and sustainable formulations in personal care, cosmetics and beyond. They aim to replace petrochemical, animal- and plant-based ingredients.

The third runner-up is Hiro Technologies, a US-based startup that is using plastic-eating fungi to create the world’s first MycoDigestible diapers. They harness clean non-toxic materials and deploy a fungi technology to break down soft plastic in diapers in just 12 months compared to 400+ years today to fully decompose.

”This award exists to support the boldest visionaries turning fungal science into systemic change. Fungi are nature’s original engineers. We’re simply giving them the platform they deserve,” says Susanne Gløersen.

*Sources: ResearchAndMarkets / GMI, BusinessResearchInsights, Reanin, Grand View Research

Topics