Funga PBC uses DNA sequencing and advanced data analysis to identify growth‑promoting native fungal communities that have been degraded in managed forests. The company formulates inoculants and applies them to seedlings at nurseries so the fungi establish on roots prior to planting. Early results reported by the company show its inoculants can increase survival rates and boost tree growth by an average of 30%. Funga has helped restore fungal biodiversity across more than 6,500 acres of managed forests. The company was founded in 2021 by Dr. Colin Averill and is headquartered in Austin, Texas. Funga positions its approach as a way to restore belowground biodiversity and enable forests to sequester more carbon, and it is scaling through strategic partnerships and investment. Funga combines DNA sequencing, machine learning, and forest microbiome research to identify and reintroduce native mycorrhizal fungal communities that boost tree growth and carbon capture. The company says restoring wild soil microbial biodiversity can accelerate plant growth by an average of 64%, driving faster carbon sequestration. Funga is developing proprietary software and datasets to recommend the right fungal combinations for specific locations and to quantify additional carbon removal. Its early projects include a microbiome restoration site in Lexington, Georgia in partnership with Conservation Resources, and plans to establish another ~2,500 acres within the loblolly pine footprint of the southern U.S. over the next 18 months. Funga’s longer-term goals include generating fungal DNA profiles from 1,000+ forests and establishing 1,000 hectares of combined tree planting and soil fungal community restoration. The company aims to offer measured carbon removal to corporate buyers and target the sequestration of at least three billion tons of CO2 by 2050.

Total raised

$4M

Funding rounds

2

Latest round

Seed

Latest activity

Feb 2023