GALY Raises $33M From Bill Gates’ BEV, H&M, and Inditex to Advance Climate-Resilient Cultivated Cotton
GALY, a plant-cell culture startup based in Brazil and Boston, USA, has raised $33 million in an oversubscribed Series B financing round to advance its proprietary platform for cultivated cotton from lab to pre-industrial scale. Additionally, the funds will support expanding R&D efforts to improve the quality of “GALY Cotton” and develop other sustainable alternatives to traditional crop-derived commodities. The funding round was led by Bill Gates’s Breakthrough Energy Ventures (BEV), with …
Inditex, Owner of Fashion House Zara, Invests in GALY’s Cultivated Cotton from Plant Cells
Spanish multinational clothing company Inditex, owner of Zara and Massimo Dutti, among other fashion brands, has announced a minority stake investment (the sum has not been disclosed) in GALY, a Brazilian and US biotech producing cultivated cotton from plant cells. GALY was founded in 2019 by Luciano Bueno, a former Deloitte executive. The startup has raised over $33.5 million from notable investors such as Sam Altman, former president of Y Combinator …
Cultivated Cotton to Enter the Market for the First Time Ever
Cultivated cotton produced by US startup GALY is set to be used commercially for the first time, after the company signed a deal with Japan’s Suzuran Medical Inc. Suzuran will use the cotton — which is grown from cells in a bioreactor — to produce medical products such as gauze and absorbent cotton, along with sheets and cosmetic cotton. According to Forbes, thousands of tons of the cultivated fibers will …