MyForest Foods, a plant-based meat company based in New York, has raised $15m in a Series A-2 funding round and appointed a new CEO.

The alt-meat company said the funding will support growth and further bring its MyBacon product to more consumers across the East Coast. The round was led by MyForest Foods’ parent company, Ecovative Design.

Most of the proceeds will support MyForest Foods’ retail growth and foodservice presence as it expands its footprint. The mycelium-based MyBacon is now commercially available at multiple Fairway Market and Gourmet Garage store locations throughout Manhattan, New York. The additions mark a new milestone of over 100 retail stores stocking MyBacon across the Northeast.

Gary Hirshberg, MyForest Foods board member and co-founder of Stonyfield Farm, said that the plant-based category is at “a unique inflection point, where only the most promising and delicious innovations will thrive”.

“I believe MyForest Foods has met this call with its unique MyBacon offering,” Hirshberg added. “The company is scaling its operations to meet consumers’ growing demand. With this additional investment, it will expand its market presence, attract new retailers, and educate customers about the power of mycelium.”

To support the company through this growth period and into the future, Greg Shewchuk has been hired as MyForest Foods’ new CEO, effective immediately.

Eben Bayer, the company’s co-founder and former CEO, will remain chairman of the board and continue to support the team’s continued operational expansion. He will remain CEO of Ecovative, which continues developing and scaling mycelium products.

Bayer commented: “I’m thrilled to bring Greg on board and leverage his savvy marketing and consumer packaged goods experience. With his expertise, our team will expand access to our delicious MyBacon, launch new whole cuts, and create a healthier, tastier, more sustainable world.”

Shewchuk most recently served as CEO of the food allergy prevention company SpoonfulONE, acquired by Nestlé in late 2022. He is also an active member of the board of advisors for global growth strategy firm Gemic and has previously held senior positions at Campbell Soup Company, Unilever and Cadbury Schweppes PLC among others.

With the new funding, Shewchuk said the goal is to double down on marketing and sales “to take MyForest Foods brand to the next level”.

MyForest Foods’ mycelium farm, Swersey Silos, has rapidly scaled production since opening its doors in July 2022. The team is also in the process of launching a second farm in Canada with Whitecrest Mushrooms Ltd.

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