GALY Raises $33 Million in Oversubscribed Series B Financing to Advance its Cellular Agriculture Platform
Summary
"We are thrilled to have investors who recognize the crucial role that our climate adaptation technology will play in our daily lives, said Luciano Bueno, CEO and Founder of GALY. Agriculture is arguably the industry sector most impacted by climate change, while also being a major driver of greenhouse gas emissions itself, said Carmichael Roberts, Breakthrough Energy Ventures. GALYs breakthrough in growing agriculture like cotton and others in a bioreactor is a game-changer, said Ryan Panchadsaram, John Doerrs technical advisor at Kleiner Perkins. "The support of Breakthrough Energy Ventures is a testament to our vision and recognizes our scientific progress to date, and the commitment of industry leaders like H&M Group and Inditex adds both capital and expertise, helping us develop our product to reach market quality and build modular-based capacity, added Bueno. GALYs current cap table, which includes Sam Altman (Hydrazine Capital), Tony Fadells Build Collective, Tim Draper (Ventures Lab), Pillar VC, Petri Bio, Harry Tannenbaum, Yoav Lurie, Babel Ventures, Lake House, Incite, Agronomics, Fashion For Good, and Apollo Projects, among others, positions GALY uniquely in the current market environment.