About Ecovative
Ecovative is a company based in Albany (United States) founded in 2007 by Gavin McIntyre, Gavin Mclntyre, and Eben Bayer.. Ecovative has raised $183.93 million across 27 funding rounds from investors including 3M, United States Department of Agriculture and Rensselaer. The company has 106 employees as of December 31, 2022. Ecovative has completed 1 acquisition, including Lambert Spawn. Ecovative offers products and services including MyBacon, Forager, and Mushroom Packaging. Ecovative operates in a competitive market with competitors including Mogu, 3D BioFibR, Woodoo, Cellexcel and Fibenol, among others.
- Headquarter Albany, United States
- Employees 106 as on 31 Dec, 2022
- Founders Gavin McIntyre, Gavin Mclntyre, Eben Bayer
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Sectors
Real Estate & ConstructionChemicals & Materials Environment Industrial Goods & Manufacturing
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Email
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Phone
*********
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Website
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Social
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- Legal Name Ecovative Llc
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$183.93 M (USD)
in 27 rounds
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Latest Funding Round
$1.68 M (USD), Grant
Mar 27, 2025
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Investors
3M
& 12 more
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Employee Count
106
as on Dec 31, 2022
- Investments & Acquisitions
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Products & Services of Ecovative
Ecovative offers a comprehensive portfolio of products and services, including MyBacon, Forager, and Mushroom Packaging. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Mycelium-based bacon substitute for sustainable meat options.
Mycelium material for fashion and textiles applications.
Grown packaging that composts quickly and reduces waste.
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Funding Insights of Ecovative
Ecovative has successfully raised a total of $183.93M across 27 strategic funding rounds. The most recent funding activity was a Grant round of $1.68 million completed in March 2025. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 27
- Last Round Grant — $1.7M
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First Round
First Round
(18 Jun 2009)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Mar, 2025 | Amount | Series E - Ecovative | Valuation |
investors |
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| Mar, 2025 | Amount | Debt – Conventional - Ecovative | Valuation |
investors |
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| Mar, 2025 | Amount | Grant - Ecovative | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Ecovative
Ecovative has secured backing from 13 investors, including venture fund and institutional investors. Prominent investors backing the company include 3M, United States Department of Agriculture and Rensselaer. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Private investment firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Venture capital is invested in media sectors by the firm.
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Founded Year | Domain | Location | |
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AiiM Partners is focused on investing in growth-stage technology companies.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Ecovative
Ecovative has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Lambert Spawn. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Mushroom spawn is cultivated and distributed for commercial use.
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1919 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Ecovative
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Ecovative Comparisons
Competitors of Ecovative
Ecovative operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Mogu, 3D BioFibR, Woodoo, Cellexcel and Fibenol, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Mycelium-based solutions for floor tile production are provided by Mogu.
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| domain | founded_year | HQ Location |
Low-denier multifilament protein fibres are produced via patented dry-spinning technology.
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| domain | founded_year | HQ Location |
Low-grade wood is transformed into durable construction materials.
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| domain | founded_year | HQ Location |
Bio-based composite materials are developed for water-resistant fabrication.
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| domain | founded_year | HQ Location |
Produces high-quality biomaterial products for various applications.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Ecovative
Frequently Asked Questions about Ecovative
When was Ecovative founded?
Ecovative was founded in 2007 and raised its 1st funding round 2 years after it was founded.
Where is Ecovative located?
Ecovative is headquartered in Albany, United States.
Who is the current CEO of Ecovative?
Eben Bayer is the current CEO of Ecovative. They have also founded this company.
Is Ecovative a funded company?
Ecovative is a funded company, having raised a total of $183.93M across 27 funding rounds to date. The company's 1st funding round was a Series E of $11M, raised on Jun 18, 2009.
How many employees does Ecovative have?
As of Dec 31, 2022, the latest employee count at Ecovative is 106.
What does Ecovative do?
Ecovative was founded in 2007 in Albany, United States, and operates in the sustainable materials sector. Mycelium-based technology is utilized to create biodegradable alternatives to plastics and engineered woods. Products such as mycelium foam and packaging materials are produced for various applications. Operations focus on environmental innovation through fungal growth processes, with distribution centered in North America.
Who are the top competitors of Ecovative?
Ecovative's top competitors include Mogu, Strong by Form and 3D BioFibR.
What products or services does Ecovative offer?
Ecovative offers MyBacon, Forager, and Mushroom Packaging.
How many acquisitions has Ecovative made?
Ecovative has made 1 acquisition, including Lambert Spawn.
Who are Ecovative's investors?
Ecovative has 13 investors. Key investors include 3M, United States Department of Agriculture, Rensselaer, DOEN Foundation, and Advance Albany County Alliance.
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