G+T Ventures, Gilbert + Tobin’s Ventures practice, has advised Australian biotech company Loam Bio on its US$73 million Series B funding round.
Loam Bio has developed a microbial crop seed coating to ramp up carbon storage in soil, subsequently improving soil health and removing CO2 from the atmosphere. The company is made up of Australian and North American scientists, entrepreneurs and farmers.
Loam Bio’s latest funding round was co-led by Lowercarbon Capital and Wollemi Capital and supported by existing investors Horizons Ventures, Main Sequence, Acre Venture Partners, Clean Energy Finance Corporation (CEFC), Grok Ventures and others. The funds raised will be used to expand the availability of Loam Bio’s seed coating that supercharges plants’ ability to store carbon in the soil.
Loam CEO, Guy Hudson, commented “Funding rounds can be complicated at the best of times, having specialist legal advisors with deep expertise in the field was crucial to running a smooth process. I would highly recommend Xavier and the G+T Ventures team”.
Lawyer and Head of G+T Ventures Xavier Keary advised Loam Bio on all aspects of the funding round, with assistance from lawyers Henry Simpson and Alex Berry. Commenting on the raise, Xavier said “We are thrilled to have supported Loam Bio in its latest fundraising round. Soil carbon sequestration is a vital tool in the battle against climate change and we are proud to be able to support Loam Bio in its mission to simultaneously increase soil carbon sequestration while improving soil health.”