Mogu (soon to be legally named SQIM) develops mycelium-derived biomaterials across interior, textile, leather and automotive markets under brands including Mogu and Ephea. Through its Mogu brand the company offers wall, floor and acoustic interior products; it says its floor tiles are 87% biobased resin and resist scratches and abrasions like conventional floors. Ephea specialises in textiles targeted at luxury fashion and the automotive industries and is positioned as a new category of material rather than a direct leather replacement. The company plans to scale operations, advance R&D projects and open a new production plant. Leadership frames the work as proving that innovation, sustainability and industrialization can coexist and deliver impact in coming years. Mogu develops biomaterials applied to product design and interior architecture and pursues research lines in sustainable materials for responsible fashion and in the food sector for high-protein ingredients and foods. The company plans to expand its commercial offering in the design market and to strengthen its R&D division. It intends to focus growth strategies within the biomaterials sector and on expanding across the European market. Management says the operation follows a process of deep exchange among the parties and lays solid foundations for future prospects. Mogu reports a constant increase in demand for its innovative and sustainable materials, which it says is supported by European policies including the Green Deal. The company completed a capital increase to support these initiatives.

Total raised

$13M

Funding rounds

2

Latest round

Series A

Latest activity

Jan 2024