Sustainable Bioproducts, a Chicago, IL-based biotech startup developing innovative food technology, raised $33M in Series A financing.
The round was led by 1955 Capital, with participation from Breakthrough Energy Ventures, ADM Ventures, Archer Daniels Midland Company (NYSE: ADM), Danone Manifesto Ventures, Lauder Partners, and the Liebelson family office.
Led by Thomas Jonas, CEO and cofounder, Sustainable Bioproducts is a biotechnology company developing a new way to grow edible protein. The company’s technology emerged out of fundamental research into extremophile organisms that live in Yellowstone National Park’s volcanic springs. That work led to the development of an innovative fermentation technology, which can grow protein with great nutritional value and minimal impact on the environment.
NASA, the National Science Foundation, the National Park Service, the U.S. Environmental Protection Agency (EPA), the U.S. Department of Agriculture (USDA), the State of Montana and Montana State University have provided financial and in-kind support to the company, which is based out of the University of Chicago’s Polsky Center for Entrepreneurship and Innovation.