USA – Kula Bio, a Boston, MA-based provider of sustainable nitrogen solutions, closed a $50m Series A funding.
The round was led by Lowercarbon Capital with participation from Collaborative Fund, Grantham Environmental Trust’s Neglected Climate Opportunities Fund and iSelect Fund. Other investors in the round include Pillar VC, Embark Ventures and BOPU. The funding will be used to increase production capacity as well as further technology innovation of Kula Bio’s technology.Led by Bill Brady, founding CEO and director, Kula Bio produces Kula-N, a sustainable nitrogen biofertilizer that helps farmers maintain yield, improve soil quality and reduce carbon emissions and other environmental impacts associated with traditional, synthetic nitrogen fertilizers. Synthetic nitrogen fertilizer accounts for over 5% of the world’s greenhouse gasses each year. Since its founding in 2018, the company has proven its product is crop agnostic, and can replace a meaningful amount of a farm’s use of traditional nitrogen fertilizers. Kula-N trials across geographies and soil types have enabled farmers to transition to sustainable nitrogen. The company’s technology stores energy in a naturally occurring microbe that fixes nitrogen from the air to the soil. It is patent-protected and derived from peer-reviewed research performed at Harvard University.27/10/2022
