Lithuanian farm of medicinal and edible mushrooms MISHKAY raises an investment from Tesonet

MISHKAY, better known in the Lithuanian markeе as Pjaunu Grybą, has raised an undisclosed amount of investment from business accelerator Tesonet. The company aims to build its laboratory and mushroom cultivation facility in Vilnius.

• Launched in 2021, MISHKAY cultivates edible and medicinal mushrooms such as Shiitake, Lion’s Mane, Eringi, Maitake, and others, from which it produces functional food supplements and food products. Its goal is to be one of the largest medicinal mushroom growers and food supplement manufacturers in the EU.

• In the coming months, Pjaunu Grybą will be reorganized into a closed joint-stock company with a new name MISHKAY Biotech, while the company in Lithuania will continue to operate under the brand Pjaunu Grybą.

“We have accumulated experience in the longevity market, so we can be a strong support in opening global markets. In general, the use of mushrooms in the industry is extremely broad and can be effectively applied to improving the nervous system, preventing aging diseases and cancer, and many other areas,”

Eimantas Sabaliauskas, Tesonet’s co-founder stated.

• The lead investor in this round is Tesonet, a Vilnius-based business accelerator and investor that focuses on cybersecurity, health tech, edtech, and growth tech startups. Tesonet is the first investor at this stage, and acquires a non-controlling stake in the company. It intends to double the investment in the upcoming year.
• Currently, the company builds a new laboratory and production premises in the Vilnius district. Pjaunu Grybą has also opened its first store for fresh mushrooms and their products in Kaunas, and plans to open two more stores in Vilnius and Klaipeda soon.