Precision fermentation start-up Michroma has stated that it has closed $6.4 mln in seed financing to speed up commercialization of its sustainable, mushroom-derived natural food coloring. The round, led by General Mills-backed Supply Chain Capital, will also help the startup expand research and development capabilities and broaden its ingredient platform.
Founded in 2019, Michroma is working on high-performance colorants made from fungi through precision fermentation. To achieve this, Michroma focuses on creating ‘fungal biofactories’ to produce small molecules, like colors, more efficiently.
Image: Michroma
Noramay Cadena, Supply Change Capital’s Managing Director and Michroma Board Member: “We see compelling market and consumer potential for Michroma’s fungal platform to create next-generation natural ingredients, from colorants to flavors, that are healthier and more sustainable while maximizing production efficiency. We are excited by the speed and skill with which they are building out their capabilities. Even more so, in light of the current disruption of supply chains globally, we believe Michroma is laying the foundation for the sustainable ingredients of the future.”
Source: vegconomist.com