United States. Nature Coatings, a biochemical company that transforms waste materials into renewable, safe, bio-based solutions, announces the successful completion of an oversubscribed $2.45 million seed funding round.
The investment round was led by Regeneration.VC and The 22 Fund.
The significant investment follows the successful launch of Nature Coatings' flagship product, BioBlack TX, its high-performance, carbon-negative alternative to the polluting and toxic petroleum-derived carbon black.
The dispersion is entirely bio-based and features a unique black pigment sourced from FSC-certified wood waste.
It has been acclaimed worldwide and has been adopted by renowned fashion brands such as Kering Group, Levi's, Bestseller's Jack & Jones and Selected HOMME, as well as Vollebak.
"At Nature Coatings, our vision is to create a future where the chemical industry operates in harmony with nature and this new investment will bring us closer to our goal," said Nature Coatings Founder and CEO Jane Palmer.
"As a Consumer ClimateTech fund focused on reimagining consumer industries, we've been looking everywhere for a direct replacement for petroleum-based carbon black that is 100% bio-based and price-parity," said Dan Fishman, general partner at Regeneration.VC.
"The team is reshaping the chemical industry and we are excited to support their journey," he added.
"Nature Coatings offers a long-term, bio-based solution that can translate into many industries contributing to the mission of a cleaner and more sustainable environment," said Leonardo DiCaprio, actor and environmentalist.
"I am excited to join as an investor and support the company's growth that will enable brands to adopt safer practices, while educating the consumer about more sustainable products."
The recent investment will enable Nature Coatings to accelerate the adoption of BioBlack TX by expanding manufacturing capabilities, strengthening the senior team, and establishing a global distribution network.
BioBlack TX not only benefits the planet by being free of fossil fuels and sequestering more carbon dioxide than it emits, but it also prioritizes people's health and well-being by containing undetected and carcinogenic polycyclic aromatic hydrocarbons (PAHs) and having less than 0.1% Volatile Organic Compounds (VOCs).
