Kering invests in Italian bio-produced materials specialist Sqim (Mogu)

2 Jan 2024

Kering is keenly interested in Italian start-up Sqim, also known as Mogu. Through Kering Ventures, its venture-capital arm, the French luxury group has backed the Italian start-up specialised in materials bio-produced using mycelium (sourced from mushroom roots) in the latter’s first major funding round. Sqim has raised a total of €11 million in capital, through Kering and other investors like CDP Venture Capital, the European Circular Bioeconomy Fund (ECBF VC), and Progress Tech Transfer.