If you’ve ever changed a diaper, you might’ve wondered what happens to it after it goes in the trash. The answer, unfortunately, is that it’ll sit in a landfill for hundreds of years—certainly longer than the baby who briefly wore it will live. In fact, every diaper you wore when you were a baby is still sitting around, at best in a landfill, or perhaps even in the ocean. And did you know the average American baby goes through 6,000 diapers before learning to use a toilet?

But what if fungi could change that?

In this episode, I sit down with serial entrepreneur Miki Agrawal, the founder of Thinx (yes, the period underwear company), Tushy (yes, the bidet company), and now HIRO Technologies—a company using plastic-eating fungi to help disposable diapers return to the earth.

Miki, who some have dubbed the “Queen of pee, poop, and periods,” (I think they should shorten it to the “Queen of Secretions”) shares how an opportune moment with her toddler and a children’s book about fungi inspired her to launch HIRO. Her company’s first product—HIRO Diapers—uses a packet of dormant, culinary-grade fungi that awaken when exposed to moisture and begin breaking down the diaper’s plastic components, dramatically reducing its landfill lifespan from centuries to under a year, after which it simply becomes dirt.

We talk about everything from the science of fungal degradation to the challenges of biotech entrepreneurship, from raising millions for an unconventional idea to why she believes reconnecting with nature is the ultimate form of innovation.

Whether you’re a parent, a sustainability enthusiast, or just fascinated by the intersection of biology and business, this conversation will make you rethink what “waste” really means.

Discussed in this episode

• It was the children’s book Pacha’s Pajamas that implanted the idea in Miki’s mind about plastic-eating fungi.

• You can buy HIRO Diapers here.

• You can see HIRO’s original kickstarter, including video pitch, here.

• Miki recommends checking out the UN Millenium Goals for ideas of companies to create.

• Reuters discusses HIRO’s launch and technology.

• Miki also started Thinkx (period underwear) and Tushy (bidets).

More about Miki Agrawal

Miki Agrawal is the creative force behind acclaimed social enterprises TUSHY (the modern bidet brand), THINX (period-proof underwear), and WILD (NYC’s first gluten-free pizza concept), collectively valued at over $250 million. Miki is the author of best-selling books "DO COOL SH*T" and "DISRUPT-HER”.

Her latest company HIRO is a revolutionary nature-based start-up harnessing ancient technology - fungi - to help solve the global plastic crisis. Their first product is a baby diaper that returns to the earth with the help of friendly fungi. (They chose diapers to launch with because they’re the #1 household plastic waste item that takes 400+ years to decompose in a landfill - and each baby uses ~6,000 diapers in their lifetime. Wild, right?) HIRO Diapers starts returning to the earth with the help of fungi - and they’re soft, safe, high-performing and ready to change the game.

Recognized as one of Fast Company's "Most Creative People," a "Young Global Leader" by the World Economic Forum, and named one of INC's "Most Impressive Women Entrepreneurs," Miki brings a wealth of experience and expertise to the stage as a keynote speaker. Her authentic talks have been validated by audiences at MindValley, EO, and Capitalism.com, who have voted for her as the #1 best speaker among hundreds of speakers.

Recently Alex Shandrovsky had me as a guest on his show, the Investment Climate Podcast to talk about The Better Meat Co.’s recent funding round. When it came out, more than one Business for Good listener heard it and told me they thought it would make a good episode to release to our audience too, so this episode is simply the conversation Alex and I had for his podcast.

If you’ve been following the alternative protein sector (and the broader biotech sector), you’ve likely seen the wave of challenges that fermentation, cultivated, and plant-based startups have faced over the past few years. As recent AgFunder News reporting confirms, ag and food tech investment is at a decade-long low. One active food tech VC even declared that foodtech investing is “maybe as bad as it’s ever been.”

Some days, building a startup in our sector can feel like being a player in Squid Game—with about the same odds of survival.

While layoffs, bankruptcies, shutdowns, and cash-free acquisitions have been rampant in our sector lately, BMC has never conducted layoffs. Instead we’ve always been very frugal, and we tightened our belt even further in the past year, all while continuing to make important progress toward our aspirations of slashing humanity’s footprint on the planet. This has been true in the midst of the three-year litigation we endured, the collapse of our bank and subsequent (temporary) loss of all funds, the painfully wintry investment climate for alt-protein, and other seemingly innumerable challenges. Our ethic of frugality will certainly continue in this new era of scaleup for our company.

This financing is hardly the end of our story. Receiving investor dollars isn’t our goal; it’s solely a means to the end of building a profitable business that will help put a dent in the number of animals raised for food. Raising a round is akin to having someone provide the clothes, tents, and food you’ll need to climb Everest…but you still need to actually go climb the mountain—hardly a guaranteed outcome.

I’ve often said these days that we’ve shifted from what felt like a Sispyphean feat of fundraising to now merely a Herculean feat of scaling.

Nearly all startups fail. The vast majority never see their seventh birthday, which BMC recently celebrated. Our company is still far from successful, but we now have a real chance to birth into the world a novel crop that can help feed humanity without frying the planet. We will judiciously use these new funds to work hard to finally let the Rhiza River flow.

Alex and I discuss the story of how this funding round came about, and where we may be going from here.