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Funga

Austin, US · Founded 2021 · Delaware corporation · 39 employees on LinkedIn · 4 known investors

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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.

AgTechBiotechClimate Tech

Founders & leadership

Funga was founded in 2021 by Dr. Colin Averill.

DCDr. Colin Averill
Dr. Colin AverillFounder, CEODr. Colin Averill leads an academic research group at ETH Zürich's Crowther Lab studying forest microbiomes and mycorrhizal fungi; he founded Funga, a public-benefit corporation based in Austin, Texas, to apply this research toward soil restoration and carbon removal.
ERErika Randolph
Erika RandolphChief Operating OfficerShe brings over 16 years of experience in sustainability and operations leadership across forestry, technology, consumer products, agriculture, and other industries, with responsibility for P&Ls ranging from $1.5M to over $100M and managing teams of up to 30 people, including managers.
JPJosh Parrish
Josh ParrishChief Growth OfficerHe has worked with forest and farm owners on climate, sustainability, and conservation initiatives.

Board

MNMatthew Nordan
Matthew NordanBoard MemberCo-Founder and General Partner at Azolla Ventures

Investors · 4

Trailhead Capital✓ confirmed by FungaDenver · $500K – $2M

How we know: the company's own site · Not right? Tell us

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

How we know: Better Ventures Central Llc's portfolio page · the VCSheet dataset · open dataset · 5k.vc investor directory · Not right? Tell us

Collaborative Fundlisted by Collaborative FundNew York · $500K – $1M

How we know: funding news · collabfund.com · Not right? Tell us

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 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 Dr. Colin Averill in 2021.
Who are Funga's investors?
Funga's investors include Azolla 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.