Funga

Overview
News
Conservation Tech?
Product stageSegments
Seed
?
Forest Regeneration
?

Funga is a Texas-based company that uses forest fungal microbiomes to improve forest regeneration, carbon sequestration, and microbial biodiversity. The company combines advanced DNA-sequencing technology and machine learning with forest microbiome research for the precise placement of mycorrhizal fungi in forests. The company believes planting wild soil microbes with trees can increase plant growth by 64%, thereby speeding up the carbon capture process. It claims to be the first nature-based carbon removal company powered by below-ground biodiversity restoration (applying fungal microbiomes).

The company studies fungal species in forests using soil samples and DNA, combined with climate and soil data, to find fungi that promote tree growth and carbon removal. After identifying healthy fungal communities, the company introduces these fungi to tree seedlings at the time of planting, particularly in clear-cut zones (an area of forest in which most of the standing trees are harvested at the same time, leaving only a few trees standing after the harvest). Finally, the company measures the carbon removed and sells carbon offsets to corporate customers.

As of August 2023, the company aims to create DNA profiles from 1,000+ forests for its data platform to find optimal fungi for carbon sequestration, with plans to sequester at least three billion tons of CO2 by 2050.

Key customers and partnerships

In early 2023, the company established its first microbiome restoration project in Lexington, Georgia, in partnership with Conservation Resources. The two companies also plan to establish 1,000 hectares (~2,500 acres) of forest microbiome restoration projects within the loblolly pine footprint of the southern US by 2025. In June 2024, Funga partnered with PRT-IFCO, North America's largest provider of forest seedlings, to work as their nursery partner for the restoration of fungal biodiversity.


HQ location:
1612 Canterbury Street Austin TX USA
Founded year:
2021
Employees:
11-50
IPO status:
Private
Total funding:
USD 4.0 mn
Last Funding:
USD 4.0 mn (Seed; Jan 2023)
Last valuation:
-
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