Bristol-based Mykor Ltd raises £2.7m seed round for mycelium insulation technology

Bristol-based Mykor Ltd has secured an estimated £2.7m in a seed funding round to scale its bio-based insulation and building systems. The company develops products such as MykoSIP and MykoSlab using mycelium and industrial residues to create fire-resistant, thermally efficient alternatives for the construction industry.

Founded in 2021, Mykor addresses the carbon footprint of the built environment. Its technology targets the carbon emissions linked to buildings by transforming waste materials into high-performance construction components. The company products are designed to reduce embodied carbon while meeting regulatory fire safety and thermal performance standards.

This latest £2.7m injection follows a series of smaller raises over the past three years. In 2025, the company raised £307.2k in July and £141.3k in January. During 2024, Mykor completed rounds of £816.3k in October and £150.1k in November. Earlier funding rounds provide a trajectory of the company valuation growth. In April 2023, Mykor raised £675.6k at a £3m valuation, following a March 2023 round of £152.4k at a £2.4m valuation. Its earliest recorded funding was a £20k round in December 2021, which valued the business at £499.6k.

The company latest accounts for the year ending 31 December 2024 show a headcount of six employees. However, current LinkedIn data indicates the team has grown to 25 staff members. Mykor operates from its headquarters in Bristol and focuses on material design, circular economy research, and biotechnology.

In April, Susannah Jane Mcclintock was appointed as a director. LinkedIn profiles suggest she may be an early-stage climate tech investor and advisor with a focus on supporting female founders.

The company building systems are positioned as alternatives to traditional masonry and timber frames, utilizing green chemistry and biotechnology to improve the resilience of the built environment. Formal documentation for the latest round was filed in May, following an allotment of shares in April.