Friday, November 27, 2020

Biodesign start-up raises $91m to expand Ingredients-as-a-Service platform

A California-based biodesign start-up has raised more than $91 million to expand its global Ingredients-as-a-Service platform.

According to Geltor, the $91.3 million Series B financing aims to meet accelerating demand from global consumer packaged goods (CPG) companies for sustainable, functional, and 100% animal-free ingredients.

The round was led by future protein pioneer CPT Capital, with significant commitment from WTT Investment, as well as including new and returning investors. The Series B brings the total funding raised for Geltor to $116.3M to date.

Since being established in 2015, the firm has proven its biodesign technology for large and growing global CPG segments including cosmetics & personal care, nutraceuticals, and the food & beverage industries.

Its success across global CPG segments reflects consumers’ increasing preference for ethical products, as more brands face backlash for using animal ingredients and contributing to the growing threat of climate change.

Over the past year, global demand for collagen grew by 25% and Geltor saw sales surge for its first products, animal-free collagens like HumaColl21 and Collume.

Despite African Swine Fever and COVID-19 disrupting industrial supply chains, Geltor was able to scale its fermentation-based technology platform up 100X and produced hundreds of new proteins to help customers seamlessly turn an idea into a highly effective ingredient quickly and with minimal risk.

“Our goal is to make it ridiculously easy for iconic brands to build sustainable products. This next stage of growth will allow Geltor to meet the moment our world is facing, as businesses recognize the urgent need to transition to a sustainable protein supply chain,” said Geltor CEO and co-founder Alex Lorestani.

“We’re grateful to have investors who see Geltor as an index of this important shift to a system powered by fermentation and plant-based platforms like ours.

“As a scientist, I’m convinced that the highest-impact action I can take to support human and planetary health is making our Ingredients-as-a-Service platform better every single day.”

Noting Geltor’s position of strength from the emerging consumer biotechnology sector, Chief Financial Officer Sachin Kelkar said: “Since its founding, Geltor has focused on developing an industrial strength Ingredients-as-a-Service™ platform based on the fundamental principles of functionality, breadth, scale, and speed to meet the pace of customer innovation in multiple end markets.

We’re excited to leverage our strong balance sheet and investor base to scale business and manufacturing operations around the core platform to meet global protein demands for decades to come.”

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemic having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.
















Latest news

RMGroup offers best-in-class service and support to customers throughout the UK

Leading robotics and automation specialists, RMGroup, prides itself in offering its customers the best service and support provision throughout the UK. Consisting of a network...

DSM launches enzyme for lactose-free, sugar-reduced dairy

Royal DSM has launched a new enzyme to produce high-quality and clean-tasting lactose-free and sugar-reduced dairy products. Joining the company’s Maxilact lactose portfolio, Maxilact Super...

Fourth production site for Troy Foods

Troy Foods, a producer of vegetable, salad and mayonnaise, has expanded its operations with the completion of a fourth site. Supported by a £500,000 investment...

i2r Packaging Solutions targets US market growth

Strategic investments, impressive growth in capacity over the past 12 months and ongoing market penetration, particularly overseas, has resulted in i2r Packaging Solutions increasing...

Achieving clean label production

Consumers expect their food to be healthy and safe. Increasingly they prioritise foods made using future-friendly manufacturing methods and with fewer additives. But how...

Pull the perfect pint with John Guest PolarClean push-fit connectors

Improve the conditioning of beer using John Guest’s pioneering PolarClean push-fit connectors to keep beer lines extra cold and clean. Trusted by leading breweries, John...

Related news

RMGroup offers best-in-class service and support to customers throughout the UK

Leading robotics and automation specialists, RMGroup, prides itself in offering its customers the best service and support provision throughout the UK. Consisting of a network...

DSM launches enzyme for lactose-free, sugar-reduced dairy

Royal DSM has launched a new enzyme to produce high-quality and clean-tasting lactose-free and sugar-reduced dairy products. Joining the company’s Maxilact lactose portfolio, Maxilact Super...

Fourth production site for Troy Foods

Troy Foods, a producer of vegetable, salad and mayonnaise, has expanded its operations with the completion of a fourth site. Supported by a £500,000 investment...

i2r Packaging Solutions targets US market growth

Strategic investments, impressive growth in capacity over the past 12 months and ongoing market penetration, particularly overseas, has resulted in i2r Packaging Solutions increasing...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close