In Texas, a startup developing vegan leather from kombucha waste has closed a $1.1-million seed funding.
Bucha Bio will use the funds to support development and commercialization for its process, which converts bacterial nanocellulose left over from kombucha production into its Shorai and Hikari biobased materials. It expects to make Hikari, a translucent material, available later this year. Funds will also be used by Bucha Bio to develop new products—including biofibers, biobased packaging, and biocomposites—and move to new headquarters in Houston, reports Green Queen.
The oversubscribed funding round was led by New Climate Ventures, Lifely VC, and Beni VC. Participants also include Prithvi VC, Asymmetry VC, and investors from the Glasswall Syndicate.