This week in NatureTech #34

🍄 The Fungi Market Map

The living world is connected by a vast kingdom of life we are only just beginning to discover.

Fungi are so much more than mushrooms - everywhere you look there are stories unfolding around fungi.

They connect all life in the forest but of all the fungal species on earth we’ve only described about 5%

Fungi have the chemical arsenal to break down plastic, grow new materials and restore soil health globally but…

… we risk losing entire branches of the tree of life to extinction - we’re burning the library.

So, naturally, we had to make a market map of the innovators capitalising on their incredible abilities . Here’s how we broke it down:

👜 1. Materials & Manufacturing: sustainable alternatives to materials used in packaging, fashion, construction and other applications using mushroom technology.

🪴2. Soil: using fungi to replenish soil-health, increase carbon sequestration & re-wild depleted natural ecosystems.

🍔 3. Food & Nutrition: mushroom-based alternatives to animal-based meat & dairy products.

1. Ecovative (New York, USA)
   A mushroom-based materials company providing sustainable alternatives to plastics, leathers, construction materials and foods. They own a number of brands including MyForest Foods, Forager & Mushroom Packaging.
   Latest Round: Growth; September 2024; $28M
   Investors: Viking Global Investors; Senator Investment Group; AiiM Partners; Trousdale Investors
   News: Partnered with GOB to introduce world’s first mycelium-based compostable earplugs (Read more) 

2. SQIM (Varere, IT)
   An innovation-led biotech company addressing industries such as  fashion, interior design and automotive with materials harnessing the natural power of fungal mycelia. They own brands Mogu & Ephea.
   Latest Round: Series A; January 2024; $11.8M
   Investors: CDP Venture Capital; ECBF VC; Kering Ventures; Progress Tech Transfer
   News: Showcased their new class of mycelium design products & fashion materials at Heimtextil 2024 (Read more)

3. Funga (Austin, USA)
   Uses modern DNA sequencing and machine learning technologies to re-wild forest fundal microbiomes leading to more resilient forests with higher levels of CO2 sequestration.
   Latest Round: Seed; February 2023; $4M
   Investors: Azolla Ventures; Better Ventures; Trailhead Capital; Shared Future Fund
   News: Partnered with Arbor Day Foundation (Read more)

4. Loam Bio (Orange, AUS)
   Develops microbial carbon sequestration technology coats seeds and works with plants to securely store carbon in soil, enabling farmers to access carbon markets through their SecondCrop program without major practice changes.
   Latest Round: Seed; February 2023; $74M
   Investors: Lower Carbon Capital; Wollemi Capital; Horizon Ventures; Acre Ventures; Main Sequence; CEFC; Grok Ventures
   News: Launched Biological for carbon in US markets (Read more)

Want us to take a deep dive or see the full map? Maybe we missed a startup? Drop us a reply to this email!

💬 Snippets for your lift conversations

💼 Big business:

• Amazon has begun selling carbon credits to its suppliers, business customers and other companies, to help offset their climate-damaging carbon emissions. (Read more)

• A Peruvian farmer is taking a Germany energy giant to court, claiming the company's emissions have contributed to the melting of Andean glaciers, increasing flood risks to his home. (Read more)

• The International Council on Mining and Metals (ICMM) published guidance to achieve net gain or no net loss of biodiversity. (Read more)

• A report highlights staggering financial consequences of biodiversity loss and stresses nature's central role in risk management. (Read more)

🏦 Finance:

• Gresham House is actively engaging with England's biodiversity net gain market, preparing for significant investment growth. (Read more)

• Institutional investors seek a manager for a new biodiversity fund focusing on venture, growth, and buyout capital. (Read more)

• A large Brazilian bank raised R$1.4 billion ($250 million) with a bond aimed at funding biodiversity conservation and social programmes. (Read more)

💻️ Tech:

• The WildDrone initiative combines technology and expertise to combat severe biodiversity loss in Kenya, driving conservation efforts. (Read more)

📖 Research:

• Residents invited to share their photos and experiences while contributing to global scientific research in the Fort Erie 2025 City Nature Challenge. (Read more)

• A global study published in PLOS Biology shows targeted conservation efforts have saved hundreds of animal species from extinction despite ongoing biodiversity crises. (Read more)

• Experts warn of climate change-induced threats to global ecosystems, focusing on challenges faced by Wisconsin's flora and fauna. (Read more)

📝 Policy:

• EU regulations are encouraging US companies to act on nature, though progress is slower than in Europe. (Read more)

• Wildlife trafficking groups are exploiting loopholes in EU trade laws, threatening biodiversity and undermining global conservation efforts. (Read more)

• Liberia and Mano River Union leaders call for stronger cross-border collaboration to protect biodiversity and combat climate change. (Read more)

• Korea ratifies a UN agreement on marine biological diversity, marking a significant step in sustainable usage practices in East Asia. (Read more)

📝 Community news and asks:

• Gentian and MS&AD InterRisk partner to enhance TNFD disclosure by providing high-resolution satellite-based biodiversity assessments for Japanese corporations (Read more)

• Aioi R&D Lab-Oxford and NatCap announce global partnership to transform biodiversity risk management (Read more)

  Submit community news or requests

🎣 Deals

🇩🇪 Theion raised $16.2M (Series A) for their innovative crystal batteries Source

🇺🇸 Kind Designs raised $5M (Seed) for their seawalls that mimic natural maritime ecosystems Source

🇩🇪 Phaeosynt raised $1.8M (Seed) for their production of vegan antibodies Source

🇬🇧 Elaniti raised (Early VC) for their soil health analytics that help growers achieve optimal crop outcomes Source

50+ Startups are raising in our network this year - get in touch to hear more

Ponda is raising a $2Mn seed for their technologies to transform plants grown in regenerated peatlands into next-generation textiles for the fashion industry. (Contact)

💭 Little Bytes

📊Read: Conservation efforts at Hackney Marshes have increased biodiversity with species rebounding due to habitat creation activities (Read more)

🎞️  Watch: Brazil targets illegal logging in major Amazon raids (Read more)

💬 Research: Curbing the major and growing threats from invasive species is urgent and achievable. (Read more)

📆 Events

In just a few weeks from now, over 200 of the brightest minds in climate tech will gather in London in Mayfair on the 7th of May, uniting growth-stage climate entrepreneurs and innovators for a day of content and networking. Sign up today and use the code NTM20 to get a 20% discount on your ticket. (Attend)

⭐ NatureTech Summit 2025-03-27 (Meet us here)

🇺🇸 Plastic Recycling Conference 2025-03-24 (Attend)

🇿🇦 Ocean Innovation Africa 2025-03-25 (Attend)

🇫🇷 World Impact Summit 2025-03-26 (Attend)

🇺🇸 Energy Storage Summit USA 2025 2025-03-26 (Attend)

🇺🇸 eMerge Americas 2025-03-27 (Attend)

🇰🇪 Africa Climate Summit 2025 2025-03-31 (Attend)

🇬🇧 Climate Finance Summit 2025 2025-04-01 (Attend)

🇨🇳 Green Tech Tour 2025 2025-04-05 (Attend)

🇺🇸 Energy Tech Summit 2025 2025-04-09 (Attend)

🇵🇱 Energy Tech Summit 2025-04-09 (Attend)

💼Jobs

Start-up or Funds:

• ⭐ Head of Platform, Superorganism, US or Remote (Apply)

• Founders Associate, Amini, Nairobi / London / Paris (Apply)

• General Opportunities, Ulysses, San Francisco (Apply)

• Customer Success Manager, Verna, Remote (Apply)

• Head of Sales Europe, Planet A Foods, Germany (Apply)

• Backend Engineer, Landbanking Group, Germany (Apply)

• Sales Development Representative, Arbonics, Remote (Apply)

• Director of Nature Based Solutions, Sylvera, UK (Apply)

• The Great Bubble Barrier (Multiple Roles)

• Verna, Customer Success Manager, UK (Apply)

• Behold - CTO (Apply)

Corporate:

• Climate, Nature and Social Risk Modelling Vice President, JP Morgan, London (Apply)

• Nature-Based Solutions, Subject Matter Expert, Ramboll, USA, (Apply)

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