Boston-based Evolved By Nature closed $70 million in Series B funding and expects to reach profitability in 2022.

WHO: Silk experts Dr. Gregory Altman and Rebecca Lacouture founded Evolved By Nature in 2013. Evolved By Nature is a green chemistry company on a mission to create better-performing products that are healthier for people and the planet. Located in Boston, Massachusetts, the company's green chemistry platform is based on its patented Activated Silk technology, which is pure silk in liquid form. Activated Silk is an entirely natural and sustainable technology that can replace many hidden synthetic polymers, plastics, and additives commonly used to make products in industries ranging from apparel to personal care to medical. Activated Silk can be configured into dozens of molecular compositions to achieve the desired results.

WHY: The new capital will support the company's plans to open a new production facility to scale its business, expand regional sales teams and research additional applications for the silk, and reach profitability.

DETAILS:

• Evolved By Nature has raised $70 million in a Series B funding round with backers including Mousse Partners, bringing the total raised to date to $91 million. Existing investors include The Kraft Group, Jeff Vinik, Roy Disney, and Chanel.
• As of 2020, the company held 75 patents for an array of silk molecular configurations.
• Chanel took a minority stake in the business for an undisclosed sum in 2019.
• According to Craft.co, the company raised a reported $30 million in October 2018.
• Evolved by Nature's trademarked Activated Silk is derived from silkworm cocoons, which can be used in fabrics, cosmetics, and medical products.