THE WHAT? Evolved by Nature has announced that it has closed a US$120 million Series C funding round led by Teachers’ Venture Growth and Senator Investment Group. Existing investors, Mousse Partners, Chanel, Jeff Vinik, The Kraft Group, Roy Disney and Emerald Development Managers also participated in the round.
THE DETAILS The round coincides with the launch of Evolved By Nature’s state-of-the-art, full-scale manufacturing facility, which will ramp up production volumes to 900 metric tons of Activated Silk per year.
The biotechnology firm is aiming to disrupt synthetic and fossil-fuel derived supply chains in apparel, leather and personal care by creating a proprietary label of Activated Silk molecules from natural silk protein, which serve as renewably sourced sustainable chemicals, bioactive ingredients and novel therapeutics.
THE WHY? This funding will accelerate commercialization of the Activated Silk technology platform, moving global markets away from dependence on synthetics and fossil fuel derivatives and expanding the boundaries of regenerative medicine.
Greg Altman, CEO and Co-Founder of Evolved By Nature, comments, “We’ve crossed a critical planetary boundary. Overuse of fossil fuel-derived petrochemicals has altered the biochemistry of the human body and the planet’s life support systems. With TVG’s support, we can now reimagine new therapeutics and global supply chains that foster healthier relationships between industries and ecosystems, focusing first on skin treatments and high-performance coatings for leather and apparel.”