- Genecis Bioindustries is a biotechnology company developing microbes and a fermentation process to upcycle waste into high-value materials
- It was founded by scientist Luna Yu when she was 21
- Last year, Genecis raised $7 million in Series A financing
Amazon’s Climate Pledge Fund has invested in Genecis Bioindustries, a Toronto-based biotechnology company developing microbes and a fermentation process to upcycle waste into high-value materials. No financial terms were disclosed.
Genecis was founded by scientist Luna Yu when she was 21. She is the first woman CEO to receive support through the Female Founder Initiative, launched by Climate Pledge Fund to invest $50 million in women-founded and women-led climate technology companies.
“I was inspired to start Genecis after I watched one of my friends at university start her own climate tech company,” said Yu in a statement. “She raised all the funds, networked, and worked tirelessly. I realized that if she could do it, I shouldn’t let anything stop me. I hope my path and story will encourage more women to develop their climate change solutions, too.”
“If we want to address climate change at scale, women like Luna need resources to build their companies,” said Phoebe Wang, investment partner and head of the Female Founder Initiative. “By funding more companies like Genecis, we aim to send a ripple effect through the venture capital industry to encourage broader support for more female climate tech founders.”
Last year, Genecis raised $7 million in Series A financing. Khosla Ventures and BDC Capital’s Cleantech Practice led the round, with participation from Gullspang Re:food, AME Cloud Ventures, IT Farm, Heinz Group and other investors.
The company also secured a $3 million credit facility from Silicon Valley Bank.