– B evolvedand Nature Raises $120M Series C, Led by Teachers’ Venture Growth, to Develop Sustainable Activated Silk™ Technology for Global Impact
Biotech Company Set to Disrupt Synthetic and Fossil Fuel-Derived Supply Chains in Leather, Apparel and Personal Care with Up to 900 Metric Tons Increase in Annual Production Volume of Activated Silk™
BOSTON, June 30, 2022 /PRNewswire/ — Evolved By Nature, the company that creates a proprietary library of Activated Silk™ molecules from natural silk proteins, today announced that it has closed a $120 million Series C financing, led by Teachers’ Venture Growth (TVG), part of the Ontario Teachers’ Pension Plan Board and C$242 billion Senator Investment Group, with participation from existing investors, including Mousse Partners, Chanel, Jeff VinnikThe Kraft Group, roy disney and Emerald development managers.
Designed to improve human health, product performance and the circular economy, Activated Silk™ molecules serve as sustainable renewable chemicals, bioactive ingredients and novel therapies for use in the apparel, personal care and personal care markets. and medicine. .
This funding accelerates the commercialization of the Activated Silk™ technology platform, which will move global markets away from reliance on fossil fuels and synthetic derivatives and push the boundaries of regenerative medicine. The round coincides with the launch of Evolved By Nature’s state-of-the-art, large-scale manufacturing facility, which will increase production volumes to 900 metric tons of Activated Silk™ per year.
This funding supports global sales of Evolved By Nature’s sustainable alternatives to petrochemical coatings currently used by industries such as textiles and leather. Over the past year, Evolved by Nature’s high performance biodegradable finishes have been adopted by fashion brands such as Anya Hindmarchnylon factories like Alpine Creations and Apex Holdings, and leather tanneries like Richard Hoffmans GmbH & Co. KG, Cyclica Srl and Curtidos Bengala.
The funding also advances the launch of potent and promising Activated Silk™ skin barrier-enhancing ingredients in private label and third-party personal care products, serving as natural substitutes for fossil fuel-derived petroleum jelly and harsh synthetic ingredients like retinoids. In parallel, Evolved by Nature will pursue the discovery of therapies that effectively improve skin and treat conditions that are normally overlooked.
“We have crossed a critical planetary boundary. The excessive use of petrochemicals derived from fossil fuels has altered the biochemistry of the human body and the life support systems of the planet,” explained Dr. Greg Altman, CEO and co-founder of Evolved By Nature. “With the support of TVG, we can now reinvent new therapies and global supply chains that foster healthier relationships between industries and ecosystems, focusing first on skin treatments and high-tech coatings. performance for leather and garments.”
“With this investment, we can now make our library of Activated Silk™ molecules available to global development partners,” explained Dr. rebecca lacoutureCEO, COO and Co-Founder of Evolved by Nature, adding, “So together we can improve the yield potential of virtually any surface.”
Evolved By Nature’s new large-scale production facility in Walpole, MAopened in May 2022 and currently produces 150 metric tons of Activated Silk™ per year, a 500% capacity increase from 2021. This funding supports full operation and the ability to generate 900 metric tons of Activated Silk™. 2024. According to Evolved By Nature’s calculations, that would be 900 million bottles of petrochemical-free skin care products, 150 million square feet of polyurethane-free biodegradable leather, sustainable finishing chemicals for 195 million garments of performance, or a replacement for 7,200 tons of non-biodegradable petrochemical surfactants that are routinely washed into waterways via skin cleansers.
“We believe there is great potential to be unlocked in using silk protein to produce high quality, innovative and sustainable products that will improve the health of people and the planet,” he explained. . Olivia Steedman, CEO of TVG. “Evolved By Nature tiene una visión convincente para romper nuevos límites científicos para reducir nuestra dependencia de productos químicos problemáticos y construir padlock de suministro plus y más sustenibles en el proceso. world level”.
Citigroup acted as sole financing agent for this transaction. Nixon Peabody represented Evolved By Nature.
About Evolved By Nature
Founded in 2013 in Boston, MA, Evolved By Nature is a biotechnology company that creates solutions from renewable sources for human health needs. Activated Silk’s biotechnology harnesses natural silk protein to create long-lasting molecules with the potential to protect, repair and improve the barrier function of anything that has a surface. Enabling the next generation of products that improve the health of people and the planet, Evolved By Nature has unlocked applications for activated silk biotechnology in textiles, personal care, medical and aesthetic treatments, therapies and more. , with unlimited possibilities. www.evolvedbynature.com
About Teachers’ Venture Growth
Teachers’ Venture Growth (TVG) focuses on late-stage growth and venture capital investments in cutting-edge technology companies around the world. We work in partnership with founders with bold missions, seeking to expand their product offerings, scale geographically and become leaders in their markets. We offer long-term thinking and active investing to help build better businesses and a better world. We think globally and act locally through our direct presence in San Francisco, TorontoLondon and hong kong.
TVG is part of the Ontario Teachers’ Pension Board, a global investor with net assets of C$241.6 billion as of December 31, 2021. We invest in more than 50 countries, from equities to real estate and infrastructure. and business growth, to generate retirement income for 333,000 current and retired teachers in Ontario. With offices at hong kongLondon, San FranciscoSingapore and Toronto, our more than 350 investment professionals bring a wealth of experience in sectors ranging from agriculture to artificial intelligence. We are a fully funded defined benefit pension plan and have achieved a total annual net return of 9.7% since the plan’s inception in 1990. At Ontario Teachers’, we don’t just invest for a return, we invest to shape a better future for the teachers we serve, the businesses we support and the world we live in.
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