Among its abilities, Evolved By Nature has demonstrated that Activated Silk™ can replace polyurethane and manufactured chemicals as a safer, biodegradable coating for natural leather apparel and upholstery. Like polyurethane, it can make leather goods water-resistant and colourfast, but unlike polyurethane, Activated Silk™ doesn’t interfere with leather’s natural ability to biodegrade in the environment. Using Activated Silk™ to return leather to its natural standing as a more sustainable material is just one example of the biotechnology’s potentially massive environmental impact.
The leather use-case had already attracted investment from Chanel, and the luxury giant participated again in the Series C funding round that Teachers’ Venture Growth led in 2022, which raised an additional US$120 million to help Evolved By Nature expand.
We invested in Evolved By Nature because it produces a novel product that is not only sustainable—it’s scalable at relatively low cost, and backed by strong intellectual property protection. The company is well positioned to benefit from the growing consumer appetite for safer health and beauty products, and the fashion industry’s efforts to become more sustainable.
The Series C funds helped Evolved By Nature set up a commercial-scale production line in its home state of Massachusetts. The plant has the capacity to produce 150,000 kilograms a year of Activated Silk™, and plenty of space for expansion.
In 2022, Evolved By Nature partnered with NFL legend Michael Strahan on a skincare line using the novel Activated Silk™ 33B ingredient that was specifically created to enable skin to enhance its own barrier function. The ingredient has been clinically proven to maintain hydration and calm redness. The Michael Strahan-branded skincare line—manufactured by Evolved By Nature and available in thousands of U.S. drugstores—will serve as a proof point for the company’s technology. It’s also a step in Evolved By Nature’s ambition to serve as a key sustainable ingredients supplier to the vast personal-care market. The company already has the ability to replace more than 1 million metric tons of fossil-fuel dependent ingredients like petrolatum, silicones and acrylate-based plastics in personal-care products.
At Ontario Teachers’, we are committed to creating a lasting, positive impact on the world. That includes investing in businesses, like Evolved By Nature, that rely on renewable materials or otherwise contribute to a more sustainable economy. You can read more about our strategy in our latest Annual Responsible Investing and Climate Strategy Report.