Tech Company Financing Transactions
Funga Funding Round
Funga closed a $4 million financing round on 2/15/2023. Backers included Azolla Ventures, Better Ventures and Shared Future Fund.
Transaction Overview
Company Name
Announced On
2/15/2023
Transaction Type
Venture Equity
Amount
$4,000,000
Round
Undisclosed
Investors
Proceeds Purpose
Funga reps tell us that the funding will be used to accelerate the development of Funga's proprietary software and datasets; scale the footprint of its forest microbiome restoration projects; and ultimately offer a new class of high-quality, sustainable carbon removal at pace with rapidly escalating demand.
Company Information
Company Status
Private & Independent
Industry
AgTech
Mailing Address
1612 Canterbury St
Austin, TX 78702
USA
Austin, TX 78702
USA
Phone
Undisclosed
Website
Email Address
Overview
At Funga, we use the forest fungal microbiome to improve forestry outcomes and address the climate crisis while enhancing beneficial microbial biodiversity. We combine modern DNA sequencing and machine learning technology with breakthrough research on the forest microbiome to put the right native, biodiverse communities of mycorrhizal fungi in the right place. This leads to more quality wood created more quickly, more carbon sequestered, and more resilient forest ecologies.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Colin Averill
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Where The Data Comes From
We report on every notable VC transaction. VC investment data records reported here are derived from a variety of public sources. The information comes to us via our partnership with VentureDeal.com, an affiliated venture.
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