Seed · Climate tech
M-Based raises approximately $700,000 for mushroom materials
METU70 Ventures leads the Seed round, joined by Elemental Ventures and Hatcher+.
M-Based has completed a Seed funding round of approximately $700,000 led by METU70 Ventures, the ODTÜ 70th Year venture capital fund managed by Maxis. Elemental Ventures participated, while existing investor Hatcher+ made a follow-on investment.
The Ankara company will use the funding to move its FOMES mushroom-based leather alternative toward industrial production, accelerate commercialisation and expand internationally. It initially targets fashion and textiles, with potential applications in furniture and automotive materials.
Use of funds
Scale industrial production of FOMES
Accelerate commercialisation and international growth
Funding history
Seed · This round~$700K