GALY Raises $33M From Bill Gates’ BEV, H&M, and Inditex to Advance Climate-Resilient Cultivated Cotton
GALY, a plant-cell culture startup based in Brazil and Boston, USA, has raised $33 million in an oversubscribed Series B financing round to advance its proprietary platform for cultivated cotton from lab to pre-industrial scale. Additionally, the funds will support expanding R&D efforts to improve the quality of “GALY Cotton” and develop other sustainable alternatives to traditional crop-derived commodities. The funding round was led by Bill Gates’s Breakthrough Energy Ventures (BEV), with participation from two fashion giants, H&M Group and Inditex. Other participants included Indorama Ventures, Endeavor Scale-up Ventures, and Unreasonable. Previous investors Material Impact, John Doerr’s family office (Eighty Eighty Group), Artesian, BRINC, and Reaction Global also backed the sustainable cotton, bringing GALY’s raised capital to $65 million. Luciano Bueno, founder and CEO of GALY, shared, …
