Deal of the day: $3.2M to Nuritas
Always nice to see the golden boys of the media and startup competitions to actually go and do something (like, raise a proper round). An Ireland-based startup Nuritas has won the 2015 SVG Thrive Award that put them on top of their class in SVG Thrive Accelerator, one of the world’s best in agritech, earlier this year; later they bagged the Top Innovation award from Forbes. Today they closed an $3.2M round led by New Protein Capital, a dedicated foodtech fund out of Singapore.
Nuritas belongs to a class of companies that are on the rise — and which I love. It’s primary product is peptides: naturally occurring biologically active peptides for anything and everything. It’s going to patent them and market / partner out / develop as drugs. But the key point is the way in which these peptides are generated, and the answer is — really BIG biological data. Nuritas uses DNA screening and machine learning to chew an astonishing amount of the available genomic and proteomic data and come up with novel peptides from food products and edible plants in general.
One other huge pro for the company: their CEO is Emmet Browne, a Wyeth -> Pfizer guy who oversaw the integration of Pfizer Nutrition into Nestle. Definitely not doing this for the first time, huh?
Importantly, Nuritas also takes the fight home to a Flagship, Enso and Fidelity-backed Pronutria (http://www.pronutriabio.com/) which has tremendously capitalized on the human diet proteome (Flagship also collaborates with Nestle to incubate foodtech startups). Should Nuritas be able to do the same genome-wise it will certainly be a big deal. And we definitely will see more biologics companies that create value through bioinformatics rather than experimentation. If you know any of these — give me a shout, we still have the space for a couple in our current portfolio.
Nuritas on CB: https://www.crunchbase.com/organization/nuritas#/entity
Nuritas website: http://www.nuritas.com/showcase/index.php
New Protein Capital website: http://www.newproteincapital.com/