Israeli biotech startup MadeRight, which has developed a process of cultivating fungi for green packaging, has nabbed $2 million in seed funding to drive the production of eco-friendly industrial materials.<\/p>\n\n\n\n
The funding round was led by Fresh Start foodtech incubator and group of investors including Israeli venture capital firm Arkin Holdings and ARC Impact, that back on early-stage startups.<\/p>\n\n\n\n
Founded in 2022 by CEO Rotem Cahanovitc, a mycology expert, and CTO Yotam David, a molecular geneticist, MadeRight is harnessing the way fungi function as natural recyclers to replace harmful materials in plastic packaging and reduce their environmental impact.<\/p>\n\n\n\n
The startup is deploying fermentation technology to cultivate fungi grown on organic industrial waste such as wood chips, to produce sustainable materials that are biodegradable and free from pollutants to create a recyclable plastic alternative for packaging. The compounds are mixed with bio-plastics to create pellets that can be used and integrated in existing machinery and supply chain processes in the packaging industry.<\/p>\n\n\n\n
\u201cFungi serve as nature\u2019s recyclers, thriving on what we consider waste,\u201d said Cahanovitc. \u201cWe harness the potential of fungi to fashion materials from renewable sources, fostering an economic circularity that will steer the future\u2019s material revolution.\u201d<\/p>\n\n\n\n
Cahanovitc told The Times of Israel that the founding idea for the technology evolved after completing his volunteer work in Ethiopia, where he was confronted with the stark reality of families burning their plastic waste as a means of disposal.<\/p>\n\n\n\n
\u201cThe concept of waste is a human construct, absent in the natural order, where Earth\u2019s recyclers are fungi,\u201d said Cahanovitc. \u201cThis realization spurred my contemplation of revolutionizing plastic production, aiming for plastics that could be effortlessly recycled or even composted.\u201d<\/p>\n\n\n\n