San Francisco, California-based biotech startup Huue raised USD 14.6 in recent funding. The Series A round took place on July 27, 2022. Material Impact led the financing for the company. HSBC Asset Management’s Climate Tech VC also participated in the round. Existing investors such as SOSV’s IndieBio, iGlobe and Professor Jennifer Doudna and Professor Jamie Cate joined the round.
As a part of the deal, Corinna Chen, Partner at Material Impact, will become a part of Huue’s Board of Directors.
Purpose of funding for Huue
Huue claims to launch the world’s first clean and scalable indigo dye for denim. With the new proceeds, the biotech company seeks to focus on commercial scale-up of the company’s sustainable indigo dye for fashion industry partners. Besides, it wants to enhance its product offerings and explore other potential applications in food and cosmetics.
So far, the company’s total funding stands at USD 17.6 million.
What the founder has to say
Michelle Zhu, CEO and co-founder of Huue, said, “The world can’t wait for sustainable solutions, and consumers are starting to hold their favourite brands accountable for using eco-friendly materials in their products. At Huue, we’ve developed a way to tap into biology’s artistry to create clean colour solutions – without the environmental impact and harmful chemicals. We’re excited to have the opportunity to accelerate our mission with support from existing and new investors, Material Impact and HSBC Asset Management’s Climate Tech VC Fund, who share our vision for a sustainable and scalable future for consumer goods.”
What the investors have to say
Corinna Chen, Partner at Material Impact, said, “At Material Impact, we seek out deep tech innovation that has the capacity to solve meaningful world problems. Huue’s breakthrough approach to bio-based dye manufacturing is a game-changer for industries under mounting pressure to minimize their environmental footprint. Huue’s market entry is perfectly timed, and we are thrilled to be partnering with this talented team to scale up and commercialize the dye of the future.”
About Huue
Tammy Hsu and Michelle Zhu launched the company in 2018. Huue is a CA-based company that leverages biotechnology to create sustainable dyes for the industries. Its bio-based technology closely resembles how colour is produced in the natural world, resulting in sustainable dyes that are as effective as conventional. Moreover, these dyes do not have any adverse environmental impact or toxic chemicals.
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