Kula Bio is a Boston-based provider of sustainable nitrogen solutions. It closed a $50m Series B funding.
Lowercarbon Capital led the round with participation from Collaborative Fund as well Grantham Environmental Trust’s Neglected Climate Opportunities Fund. Pillar VC and Embark Ventures were also part of the round. BOPU was not involved in this round.
This funding will be used for production expansion and further innovation in Kula Bio’s technology.
Kula Bio’s founder CEO and director Bill Brady produces Kula-N. This sustainable nitrogen biofertilizer helps farmers increase yield, soil quality, and reduce carbon emissions. Each year, synthetic nitrogen fertilizer is responsible for more than 5% of the world’s greenhouse gases.
The company was founded in 2018 and has shown that its product can be used to replace traditional nitrogen fertilizers. Kula-N has been tested in a variety of soil types and geographies, allowing farmers to switch to sustainable nitrogen. The company’s technology stores energy within a naturally occurring microbe, which fixes nitrogen from the air into the soil. It is patent-protected and was derived from peer-reviewed research at Harvard University.