05 February 2019 | News
Biotech startup developing breakthrough food technology.
Image credit- fiercebiotech.com
Sustainable Bioproducts, a US based biotechnology company developing a new way to grow edible protein, has raised $33 million in Series A financing from premier venture capital funds and two of the world’s largest food and agribusiness companies.
1955 Capital, a Silicon Valley-based venture fund founded by Andrew Chung, led the round. The other participants were Breakthrough Energy Ventures, a $1 billion investor-led fund created to help stop climate change; ADM Ventures, the venture investing arm of global food and feed ingredient provider Archer Daniels Midland Company; Danone Manifesto Ventures, the venture-investing arm of French food and beverage company Danone; Lauder Partners; and the Liebelson family office.
Sustainable Bioproducts’ technology emerged out of fundamental research into extremophile organisms that live in Yellowstone National Park’s volcanic springs. That work led to the development of an innovative fermentation technology, which can grow protein with great nutritional value and minimal impact on the environment.