Tesonet invested in Lithuanian biotech startup Pjaunu Grybą

Lithuanian incubator and venture company Tesonet invested in Lithuanian producer of medicinal and edible mushrooms Pjaunu Grybą. The amount of the deal is undisclosed. It is known that Tesonet acquired a non-controlling stake in the startup. In the next year, Tesonet plans to double the number of investments in Pjaunu Grybą.

Pjaunu Grybą was founded in Lithuania in 2022 by Aurelija Varnė, Audrius Bražėnas, and Tomas Varnas. The production (the farm) is located in the Molėtai District Municipality, which is about 65km away from Vilnius. The company 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. The startup does not use any fertilizers in its production.

Apart from the farm in Molėtai District, Pjaunu Grybą is building a modern laboratory and mushroom cultivation facility in the Vilnius district (Klevinai) and setting up production premises. It has a store with its products in Kaunas, and soon it will open two more stores in Vilnius and Klaipėda.

In the nearest time, the startup will become a closed joint-stock company. It will also change its name to MISHKAY Biotech, and start selling medicinal food supplements in six major EU markets. The company will be led by Tomas Varnas, co-founder of digital marketing agency Good One. However, in Lithuania, it will continue to operate under the brand Pjaunu Grybą.

Tesonet was established in Vilnius in 2008 by co-founders of Nord Security (Lithuanian provider of digital security and privacy solutions for individuals and businesses) Tom Okman and Eimantas Sabaliauskas. There are a few biotech startups in its portfolio, such as a Lithuanian producer of phytocannabinoid products from hemp Biotecus, and also a Vilnius-based longevity startup researching cell genetics and key biological processes contributing to aging Hello100.