Faber VC has co-led an investment round for British biomaterials specialist Ponda, backing the launch of BioPuff, a plant-based alternative to down insulation already used by Positive Materials.

Ponda has announced that it has raised US$2.4 million (approximately €2.2 million) to commercialise its plant-based BioPuff insulation and expand its European wetland farming network.

The round was co-led by Lisbon-based Faber VC and London-based Counteract, with participation from PDS Ventures, Evenlode Impact and the Royal College of Art . This brings the company's total funding to US$6.5 million, comprising venture capital alongside multiple grants and awards from Innovate UK, the Terra Carta Design Lab and the H&M Foundation- Ponda was among the winners of the H&M Foundation's 2022 innova

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