Jellatech Announces $3.5M Oversubscribed Seed Round
August 22, 2023
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Raleigh-based biotechnology company Jellatech announces a $3.5M oversubscribed Seed Round to enable scale-up of their cutting-edge protein manufacturing platform. Earlier this year the company announced the addition of bio-identical human collagen to their portfolio, in addition to their bovine and porcine collagen. This fundraise will propel Jellatech forward in its mission to commercialize animal-free proteins for applications in healthcare, personal care, biomedical research, and food & beverage.
“We are very excited to bring in new and existing investors, support and capital to realize the mission of our company. We have demonstrated the success of our first proteins and now it is time to scale it up and push our technology and capabilities even further” -Stephanie Michelsen, Founder & CEO
This Seed Round was led by Nordic-based byFounders, who share Jellatech's vision for transforming multiple industries through innovative and planet-friendly solutions. Other participating investors included Milano Investment Partners, Joyful VC, Siddhi Capital, Blustein and more.
Jellatech’s technology unlocks a fundamentally new branch of the tech tree of our species: creating complex proteins from scratch, at scale, without having to ‘mine’ animal bodies. Jellatech sustainably and ethically produces large, complex proteins at scale starting with collagen. The impact that this can have is going to be enormous.” — Magnus Hambleton, Investor at byFounders
Jellatech is leading the way in developing innovative, bio-identical animal proteins that are produced more sustainably, ethically and reliably. The company's breakthrough technology has shown the potential of their first protein, collagen, to disrupt the global collagen market and significantly reduce the carbon footprint associated with traditional collagen production. Collagen is the first protein in Jellatech’s portfolio with more to come.
The funds from the Seed Round will be allocated towards advancing Jellatech's research and development efforts, scaling up its cellular agriculture processes, expanding its world-class team of scientists and engineers, and accelerating the commercialization of its innovative proteins. Furthermore, Jellatech will establish key strategic partnerships to maximize its global reach and impact.
As the world faces pressing environmental challenges and growing concerns about the future of our planet, Jellatech stands tall as a beacon of hope, inspiring a positive change in the way we produce and consume food.
About Jellatech:
Jellatech is a biotechnology company developing a sustainable, scalable and reliable platform to produce complex proteins. By using cellular agriculture, Jellatech is able to create bio-identical proteins to supply various industries such as food & bev, materials, biomedicine, personal care and more, without relying on destructive animal agriculture. With a passionate team of scientists, engineers, and visionaries, Jellatech is committed to shaping a brighter and more sustainable future for the global protein production.
About byFounders:
byFounders is the community-powered early-stage venture fund investing in companies with ties to the New Nordics. The fund is backed and supported by its unique Collective, consisting of some of the region’s most accomplished founders and operators. byFounders invests at pre-seed and seed stage and takes an impact-aware approach to investing and working with the broader startup ecosystem.