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#GoodMarkets_07: Precision Fermentation

Original Publish Date: Nov 2, 2022 on Revue


The Rise of Fermentation

Major Health and Environmental Trends

  1. Up to 100 times as land efficient
  2. 10 to 25 times as feedstock efficient
  3. 20 times as time efficient
  4. 10 times as water efficient

Precision Fermentation Market

Recent Raises (Data Source: Crunchbase)

  • Description: Hyfé Foods is a biotech company producing ingredients by leveraging fungal fermentation to upcycle water byproducts from food manufacturers.
  • Location: Chicago
  • Verticals: Biotechnology, Food and Beverage, Manufacturing
  • Top 5 investors: Caffeinated Capital, Gaingels, The Engine, Supply Change Capital, Food Hack
  • Total Raised: $2M
  • PreSeed close $2M (2022)
  • Founded in 2021
  • Description: MeliBio is a technology-based company focusing on plant biology, precision fermentation, and food science that replaces honeybees with microorganisms as a medium for honey production.
  • Location: San Francisco
  • Verticals: Biotechnology, Food and Beverage, Nutrition
  • Diversity: Hispanic / Latine Founded
  • Top 5 investors: Knightfisher Capital, Big Idea Ventures, Collaborative Fund, Alumni Ventures, Joyance Partners
  • Total Raised: $7.2M
  • Seed close $5.7 (2022)
  • Founded in 2020
  • https://www.changefoods.com/
  • Description: Change Foods is a producer of animal-free cheese and dairy products. Its products are created by leveraging precision fermentation technology, starting with cheese, by harnessing the power of microbes instead of animals to create real dairy proteins and fat and the products are indistinguishable from their animal-based predecessors in taste and texture.
  • Location: San Francisco
  • Verticals: Biotechnology, Consumer Goods, Food and Beverage, Food Processing, Sustainability
  • Top 5 investors: Clear Current Capital, Giant Leap Fund, Route66 Ventures, Better Bite Ventures, Purple Orange Ventures
  • Total Raised: $15.3M
  • Seed close $14.3M (2022)
  • Founded in 2019
  • Description: New Culture is a food and beverage company that focuses on revolutionizing how cheese is made.
  • Location: San Francisco
  • Verticals: Food and Beverage
  • Diversity: Women Founded
  • Top 5 investors: CPT Capital, Ahren Innovation Capital, Evolv Ventures, IndieBio, Bee Partners
  • Total Raised: $28.5M
  • Series A close $25M (2021)
  • Founded in 2018
  • Description: Geltor is the conscious biodesign company creating the world’s most advanced designer proteins. We start by imagining and deeply exploring nature’s tree of life and combine biology, protein optimization, and fermentation to create sustainable, high-performance consumer proteins with optimal functionality and benefits.
  • Location: San Francisco
  • Verticals: Advanced Materials, Beauty, Biotechnology, Food and Beverage
  • Top 5 investors: SOSV, Fifty Years, IndieBio, Starlight Ventures, Carvallo Ventures
  • Total Raised: $114M
  • Series B close $91M (2020)
  • Founded in 2015




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