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#8 New York biotextile startup raises $550,000

In New York, biobased textile startup Bucha Bio has raised $550,000 to scale its latest product, a renewable and biodegradable fabric made from bacterial nanocellulose.

Dubbed Mirai, Bucha Bio says the material has the potential to replace animal leather as well as synthetic leather made from petroleum. Venture Capitalists New Climate Ventures, Lifely and MicroVentures participated in the oversubscribed funding, as did angel investors Cary Pinkowski, Nicholas Valeriano, and Fiona and George Sobek.

“We are excited to partner with Bucha Bio as they advance the fashion and sustainable materials industry with their innovative and eco-friendly biomaterials, furthering our portfolio-wide mission of carbon reduction and removal across the globe,” says Eric Rubenstein, managing partner of investor New Climate Ventures.

More on the story, here.