Mushroom and mycelium ingredient company Maia Farms has received $1.75 million from Genome British Columbia’s Industry Innovation (I2) Fund.
At its lab in Vancouver, Maia Farms upcycles agricultural byproducts to produce fermentation-based mushroom mycelium. The company’s clean-label ingredients can be used by manufacturers to add protein and fiber to a variety of products, from soups to ice cream.
Maia Farms is also currently a partner on a Genome BC research project with University of the Fraser Valley researchers. The project is studying transitions to climate-resilient food systems in Canada, examining how Maia Farms’ approach could influence BC’s future agricultural workforce.
“A nexus that could only happen in BC”
Last year, Maia Farms secured $2.3 million in a pre-seed funding round after winning the Deep Space Food Challenge Grand Prize with a mycelium-based protein system for extreme environments. The company said it would use the funding to accelerate its R&D activities, scale up operations, and grow its market reach.
Maia Farms now offers three mycelium-based ingredients — flour, textured protein chunks, and a high-moisture product for water binding, fat mimicry, and texturizing functionality.
The I2 Fund provides repayable growth capital to small and medium-sized enterprises working to commercialize life science technology-based products, processes, or services. Loans are interest-free for the first four years from disbursement.
“Maia’s innovative food ingredients are a result of advancements in genetics, agricultural upcycling, and bioreactor technology; a nexus that could only happen in BC,” said Gavin Schneider, CEO of Maia Farms. “We already have a loyal customer base, and this funding from the I2 Fund allows us to scale up production and explore new manufacturing options.”
