Evolved By Nature raises $ 120 million for biotech silk technology

Evolved By Nature, the company that creates a library of activated silk molecules from natural silk protein, has closed $ 120 million in C-series funding.

The round was led by Teachers ‘Venture Growth (TVG), part of the C $ 242 billion C $ 242 billion Ontario Teachers’ Retirement Board, and Senator Investment Group, featuring existing investors, including Mousse Partners, Chanel, Jeff Vinik, The Kraft Group, Roy Disney and Emerald Development Managers.

Designed to improve human health, product productivity and the circular economy, activated silk molecules serve as sustainable chemicals, bioactive ingredients and new renewable therapeutics for use in markets, including clothing, personal hygiene and medicine.

Funding accelerates the 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.

Increase production

The round coincides with the launch of the Evolved By Nature production base in Walpole, Massachusetts, which will increase production volumes to 900 metric tons of activated silk per year.

This funding boosts global sales of Evolved By Nature’s sustainable alternatives to the petrochemical coatings used by the leather and textile industries today. Over the past year, Evolved by Nature’s biodegradable coatings have been adopted by fashion brands including Anya Hindmarch, nylon factories including Alpine Creations and Apex Holdings, and leather factories including Richard Hoffmans GmbH & Co. KG, Cyclica Srl and Curtidos Bengala.

Funding is also progressing with the release of activated silk skin barrier ingredients in personal care products owned by the brand and third parties, which serve as natural substitutes for fossil fuel derivatives such as petrolatum and crude synthetic ingredients such as retinoids. In parallel, Evolved by Nature will strive to find therapeutic agents that effectively improve the skin and treat often neglected conditions.

“We have crossed a critical planetary boundary. Excessive use of petrochemicals derived from fossil fuels has changed the biochemistry of the human body and the life support systems of the planet, “said Dr. Greg Altman, CEO and co-founder of Evolved By Nature.

“With the support of TVG, we can now rethink new therapeutic tools and global supply chains that promote healthier relationships between industries and ecosystems, focusing first on skin treatments and highly effective skin and clothing coatings.

“With this investment, we can now make our library of activated silk molecules accessible to global development partners, so that together we can improve the productivity potential of – essentially – any surface,” said Rebecca Lacouter, president, chief operating officer and co-founder of Evolved by Nature.

Unlocked potential

The new Evolved By Nature production facility opened in May 2022 and currently produces 150 metric tons of activated silk per year – a 500% increase in capacity from 2021. This funding supports the full operation and capacity to generate 900 metric tons of activated silk per year in 2024

Based on Evolved By Nature estimates, this would represent 900 million jars of petrochemical-free skin care, 150 million square feet of biodegradable polyurethane-free skin, sustainable finishing chemicals for 195 million pieces of clothing for efficiency, or a substitute for 7,200 metric non-degradable petrochemical tons. surfactants are regularly washed into the waterways by skin cleansers.

“We believe that there is a huge unlocked potential in the use of silk protein to produce innovative and sustainable products of high quality that will improve the health of people and the planet,” said Olivia Steidman, CEO of TVG.

“Evolved By Nature has a compelling vision to push new scientific boundaries to reduce our dependence on problematic chemicals and build better, more sustainable supply chains in the process. It is a pleasure for us to partner with them in the implementation of this vision and the growth of their operations worldwide.

Relatively evolved by nature

Founded in 2013 in Boston, Massachusetts, Evolved By Nature’s. Activated silk biotechnology uses natural silk protein to create resistant molecules with the potential to protect, restore and improve the barrier function of anything with a surface.

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