Evolved By Nature, the US-based startup creating a proprietary library of Activated Silk molecules from natural silk protein, announced it closed $120M in Series C financing led by Teachers’ Venture Growth (TVG), part of the C$242 billion Ontario Teachers’ Pension Plan Board, and Senator Investment Group, with participation from existing investors including Mousse Partners, Chanel, Jeff Vinik, The Kraft Group, Roy Disney and Emerald Development Managers.
Designed to advance human health, product performance, and the circular economy, Activated Silk molecules serve as renewably sourced sustainable chemicals, bioactive ingredients and novel therapeutics for use in markets including apparel, personal care and medicine, a statement said.
This financing accelerates commercialization of the Activated Silk technology platform, which will move global markets away from dependence on synthetics and fossil fuel derivatives and expand the boundaries of regenerative medicine. 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 statement said.
“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,” said Dr. Greg Altman, CEO and Co-Founder of Evolved By Nature. “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.”
“With this investment, we can now make our library of Activated Silk molecules available to global development partners,” added Dr. Rebecca Lacouture, President, COO and Co-Founder of Evolved by Nature, “so, together, we can enhance the performance potential of – essentially – any surface.”
“We believe there is vast unlocked potential in utilizing silk protein to produce innovative and sustainable products of a high quality that will advance the health of people and the planet,” said Olivia Steedman, Executive Managing Director of TVG. “Evolved By Nature has a compelling vision to break through new scientific boundaries to reduce our reliance on problematic chemicals and build better, more sustainable supply chains in the process. We’re delighted to partner with them in executing this vision and growing their operations globally.”
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