GALY raises $33 million for cellular ag cotton

In Boston, GALY CO., a climate tech company pioneering the development of cellular agriculture products, has announced the closing of an oversubscribed $33 million Series B financing led by Breakthrough Energy Ventures with additional participation from new investors H&M Group and Inditex.

The funds will primarily fuel the expansion of GALY’s research and development on its cellular agriculture platform and its flagship product, GALY Cotton. The material fully replicates traditional cotton in quality while requiring 99% less water and 97% less land. It also emits 77% less carbon dioxide.

In addition to BEV, H&M Group, and Inditex, the oversubscribed investment round was joined by repeat investors including Material Impact, John Doerr’s family office (Eighty Eighty Group), Artesian, BRINC and Reaction Global. Additionally, there was participation from Indorama Ventures, Endeavor Scale-up Ventures, and Unreasonable, among others.