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Chanel-Backed Biotech Start-Up Raises $120 Million

The company closed a Series C funding round, led by Teachers’ Venture Growth (TVG), the late-stage venture arm of the Ontario Teachers’ Pension Plan Board, and Senator Investment Group. Several existing investors, including Chanel and Mousse Partners, also participated in the round.
A leather handbag by Anya Hindmarch that uses Evolved By Nature's silk-based coating
A leather handbag by Anya Hindmarch that uses Evolved By Nature's silk-based coating. (Courtesy)
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Founded in 2013, Boston-based Evolved By Nature has developed a natural, silk-based protein that can replace harsh chemicals and fossil fuel-derived synthetics used for coating performance fabrics and leather. Among the early adopters of its technology is British accessories designer Anya Hindmarch, who used it to coat a line of

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