RALEIGH, NC. – New funding will enable food technology company De Novo Foodlabs, Raleigh, NC., to accelerate the commercialization of its precision fermented lactoferrin product, NanoFerrin. The funding, led by sustainable protein venture capital firm Joyful Ventures, brings the company’s total capital to $4 million, according to the company.
De Novo, launched in 2021 by Jean Louwrens, co-founder and chief executive officer of De Novo; Leah Bessa, co-founder and chief science officer of De Novo; Richard Grieves, co-founder and chief operating officer of De Novo; and Joni Symon; co-founder and lead protein of R&D of De Novo, creates protein-based functional ingredients using microbial fermentation.
NanoFerrin, the company’s flagship product, is an alternative lactoferrin product that may mimic and offer similar benefits to lactoferrin, according to the company. The ingredient may be used in such applications as food, beverage and supplements.
“The lactoferrin market has long been hindered by high prices and inconsistent supply,” Louwrens said. “Our team of scientists and engineers has dedicated themselves to overcoming these challenges through precision fermentation technology, and we are thrilled to have achieved a breakthrough. NanoFerrin is not only more affordable and eco-friendly; importantly, it also provides a reliable supply source compared to traditional bovine lactoferrin products.”
Other companies that have invested in De Novo include: Sustainable Food Ventures; Siddhi Capital; Pascual Innoventures; UM6P Ventures; Cult Food Science; and Prithvi Capital.
“De Novo Foodlabs exemplifies the innovation and sustainability we champion at Joyful Ventures,” said Milo Runkle, general partner at Joyful Ventures, and co-founder of the Good Food Institute. “Their advancements in precision fermentation technology and dedication to creating impactful alternatives to high-value animal-derived ingredients pave the way for scalable and profitable industry solutions.”
As part of the funding, Runkle also will join the company’s board of directors.Enjoying this content? Learn about more disruptive startups on the Food Entrepreneur page.
