Rhizocore Technologies, an Edinburgh, UK-based company which produces special fungi to ensure trees survive and thrive, raised £3.5M in funding.
The round was led by ReGen Ventures, Collaborative Fund and Grok Ventures.
The company intends to use the funds to build upon their 10-person team and develop the infrastructure needed to rapidly scale their solutions.
Founded in 2021 by CEO Toby Parkes and Chief Mycologist David Satori, Rhizocore develops technologies to grow symbiotic fungi that enhance the growth, resilience, and carbon sequestration potential of newly planted forests and woodlands. The company’s fungal pellet acts as a vital underground nutrient exchange between trees and fungi known as the wood-wide Web.
Rhizocore aims to scale its operations over the next two and half years, with the aim of planting up to 5 million trees with accompanying fungal pellets in 2025 alone.
FinSMEs
22/06/2023