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US precision fermentation specialist De Novo Foodlabs has announced an additional funding raise, bringing its total funding to $4 million.
The food-tech company, headquartered in Raleigh, North Carolina, produces an animal-free lactoferrin protein ingredient, named NanoFerrin, using precision fermentation.
De Novo said its recent funding raise, spearheaded by sustainable protein venture capital firm Joyful Ventures, shows promising potential for the animal-free protein solution to ‘reshape’ the health and wellness landscape.
This latest funding round follows initial investments from Sustainable Food Ventures, Siddhi Capital, Pascual Innoventures, UM6P Ventures, Cult Food Science and Prithvi Capital.
The global lactoferrin market was valued at $773 million in 2023, and is projected to grow annually by 15.8% over the next decade. Lactoferrin is a functional protein primarily found in milk.
It plays a key role in infant development and is linked to a range of health benefits for adults, such as improved immunity, brain health, iron absorption, gut health and longevity. Additionally, it has been shown to help alleviate aging-related changes through its anti-oxidation, anti-cellular senescence, and anti-inflammation properties.
Traditional extraction methods from bovine milk are ‘prohibitively expensive’ and ‘plagued by sustainability and ethical challenges,’ De Novo Foodlabs said. The start-up was established to address these issues by developing an alternative lactoferrin that delivers all of the health benefits without ethical and environmental drawbacks.
Jean Louwrens, CEO and co-founer of De Novo Foodlabs, commented: “The lactoferrin market has long been hindered by high prices and inconsistent supply. Our team of leading scientists and engineers has dedicated themselves to overcoming these challenges through precision fermentation technology, and we are thrilled to have achieved a breakthrough.”
Louwrens added: “NanoFerrin is not only more affordable and eco-friendly; importantly, it also provides a reliable supply source compared to traditional bovine lactoferrin products. We are excited to collaborate with our investors to elevate De Novo to new heights.”