Funga was founded by Colin Averill, Dr. Colin Averill in 2021.

Who are Funga's investors?

Funga's investors include Azolla Ventures, Better Ventures, Trailhead Capital, Better Ventures Central Llc, Collaborative Fund.

How much funding has Funga raised?

Funga has disclosed $9.1M raised across 2 rounds.

Where is Funga headquartered?

Funga is headquartered in Austin, US.

Funga

Austin, US · Founded 2021 · Delaware corporation · 39 employees on LinkedIn · 5 known investors

Funga restores forest soil microbiomes by reintroducing native, growth-promoting fungal communities to degraded land, aiming to speed forest growth and increase carbon captured in wood biomass. It uses biodiversity restoration as a carbon-removal climate solution.

AgTech Biotech Climate Tech

Founders & leadership

Funga was founded in 2021 by Colin Averill and Dr. Colin Averill.

Colin AverillFounder & CEO

Dr. Colin AverillFounder, CEO

Erika RandolphChief Operating Officer

Josh ParrishChief Growth Officer

Board

Matthew Nordan in 𝕏Board directorCo-Founder and General Partner at Azolla Ventures

Investors · 5

Azolla Ventures✓ verifiedCambridge

Better Ventures✓ verifiedOakland

Trailhead Capital✓ verifiedDenver · $500K – $2M

Better Ventures Central LlcOakland · $500K – $1.5M

Collaborative FundreportedNew York · $500K – $1M

Reported raises · per SEC filings

Form D private placements

$9.1M disclosed across 2 rounds · 2022–2024

▶$5.1MraisedDec 2024 · 8 investors · Other Technology

Rule 506(b)

Officers, directors & promoters on the filing

Colin AverillExecutive Officer, Director
Matthew NordanDirector

Offering amount: $5.1M
Amount sold: $5.1M
First sale: Dec 2024
Incorporated: Corporation, Delaware, 2021
Federal exemptions: 06b

Full filing on SEC EDGAR ↗

▶$4MraisedJan 2023 · 6 investors · Other Technology

Rule 506(b)

Officers, directors & promoters on the filing

Colin AverillExecutive Officer, Director
Matthew NordanDirector

Offering amount: $4M
Amount sold: $4M
First sale: Dec 2022
Incorporated: Corporation, Delaware, 2021
Federal exemptions: 06b

Full filing on SEC EDGAR ↗

Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.

In the news

Funga uses forest fungi to capture carbon, raises $4 million in seed fundinggreen.earth · Feb 2023

Funga: How does the world’s first fungi-powered carbon removal project work? | Euronewseuronews.com · Feb 2023

Startup Funga Uses Fungi to Capture Carbon in Forestscarboncredits.com · Feb 2023

New Startup Funga Closes $4M Funding Roundcarbonherald.com · Feb 2023

Funga secures funding to lead first carbon removal project powered by fungal microbiome restorationglobenewswire.com · Feb 2023

Frequently asked questions

What does Funga do?: Funga restores forest soil microbiomes by reintroducing native, growth-promoting fungal communities to degraded land, aiming to speed forest growth and increase carbon captured in wood biomass. It uses biodiversity restoration as a carbon-removal climate solution.
Who founded Funga?: Funga was founded by Colin Averill, Dr. Colin Averill in 2021.
Who are Funga's investors?: Funga's investors include Azolla Ventures, Better Ventures, Trailhead Capital, Better Ventures Central Llc, Collaborative Fund.
How much funding has Funga raised?: Funga has disclosed $9.1M raised across 2 rounds.
Where is Funga headquartered?: Funga is headquartered in Austin, US.