Kula Bio, a Boston, MA-based provider of sustainable nitrogen solutions, closed a $10m seed funding round.
The round was led by Collaborative Fund with participation from The Nature Conservancy, Lowercarbon Capital, and the Grantham Environmental Trust’s Neglected Climate Opportunities Fund, AgFunder, BOPU, Box Group, Decent Capital, Embark Ventures, iSelect Fund, and Pillar VC.
The company intends to use the funds to continue to expand operations and its development efforts.
Led by Bill Brady, founding CEO and director, Kula Bio makes Kula-N, a next generation nitrogen biofertilizer that helps farmers maintain yield and reduce environmental impact from traditional, synthetic nitrogen fertilizers. Since its founding in 2018, the company has run a series of third-party replicated field trials across diverse geographies, soil types and crops, proving that it can replace up to 80% of a farm’s nitrogen use.