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SAN FRANCISCO - Demand for more sustainable fashion is leading the drive for investment in the burgeoning biomaterials industry, according to a specialist venture capital firm.

AgFunder says that bioenergy and biomaterials startups raised a total of US$2.1 billion in 2021 and that three of the top four - in terms of fundraising - were in the textiles sector.

Top was plant-based polymer pioneer Spiber followed by mushroom leather specialist Bolt Threads, while fourth was biofabricated leather maker Modern Meadow.

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