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Evolved by Nature raises $120mn in C series

Evolved by Nature, the Chanel-backed biotech silk start-up, raised $120 million in a Series C funding round.

The company will use the money to commercialize its key product, Activated Silk, a natural silk protein in liquid form that can be used to replace harmful chemicals in leather and textile production and in skincare products.

Silk
Figure: To minimize the impact of products on the environment and ensuring that the creation and use of Activated Silk technology increases the ability of workers and consumers to thrive. 

Besides, to minimize the impact of products on the environment and ensuring that the creation and use of Activated Silk technology increases the ability of workers and consumers to thrive.

According to its developer, the platform is a viable alternative to synthetic chemicals, pigments and fossil-fuel derivatives such as polyester and other plastics.

The company is also currently developing CircleMade, an “all-natural” and yet “high-performance” yarn made by combining regenerated fibers and Activated Silk, this technology designed with improved dye absorption, durability and “planet-friendly” recyclability in mind.

Dr Rebecca Lacouture said, “The extra funds would enable Evolved by Nature to make its proprietary molecules library available to new development partners. “Together, we can enhance the performance potential of essentially any surface.”

The funding will further allow Evolved by Nature’s newly opened Walpole, Massachusetts, factory to operate at full capacity.

Notably, this is expected to result in the production of 900 tons of Activated Silk per year in 2024, by representing a significant increase over the facility’s current annual capacity of 150 tons as of May 2022.

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