Bio-design company Geltor, a producer of plant-based collagen proteins, has raised $18.2 million in a Series A funding round led by Cultivian Sandbox Ventures, ADM Ventures and Gelita.
Geltor’s 100% animal-and GMO-free collagens are suitable for use by clients in the food and beverage industry as an alternative to collagen sourced from animals.
The company has developed a bio-design platform which utilises biology, protein optimisation and fermentation to create naturally-occuring collagens, and the company claims that its proteins have “an advantage over other commercially available animal proteins,” as they’re bio-designed for strength, firmness, and flexibility providing optimum performance.
This new funding will be used to develop new ingredients in the future and expand Geltor’s product portfolio.
Geltor CEO Alexander Lorestani said: “The industry standard for proteins right now is to use factory-farm waste to mimic the process our bodies make naturally.
“This method works at a base level, but it’s harmful to animals, the environment, and it doesn’t leverage the true power or benefits of collagen.
“Geltor’s Designer Collagens deliver better functionality for consumers, a robust supply chain for businesses, and a sustainable alternative for our planet.
“They’re proteins we can be proud of, and I’m so excited to see the world’s biggest consumer companies choosing Geltor as their sustainable protein partner.”
Dan Phillips, managing director at Cultivian Sandbox Ventures said: “At Cultivian Sandbox, we focus on identifying companies reinventing the food and agriculture industry with technology, and Geltor is doing just that.
“With a team of experienced and passionate PhD scientists behind it, and a unique, science-first approach, the company is pioneering a new industry standard for protein creation and we’re excited to be their partner on this journey.”
© FoodBev Media Ltd 2019
World Food Innovation Awards open for entries!
Have a Food product worthy of an innovation award? Then you’re invited to enter the World Food Innovation Awards.
Don’t delay – enter here today!