Demetrix Inc., an Emeryville, Calif.-based biotechnology company focused on the production of cannabinoids, secured $50m in Series A funding.
The round was led by Tuatara Capital with participation from existing investor Horizons Ventures.
The company intends to use the funds to scale its operations and commercialize the first of more than 100 unique cannabinoids.
Led by Jeff Ubersax, CEO, Demetrix employs fermentation technology that accelerates the production of cannabinoids. By using microorganisms such as baker’s yeast and fermentation combined with advanced biotechnology, data science and automation, the company can produce complex, sustainable ingredients at high purity and lower cost.
Founded in 2015, it has secured over $60m in funding led by Horizons Ventures and Tuatara Capital.