Comet Bio, a London, Ontario, Canada- and Schaumburg, Ill.-based manufacturer of sustainable ingredients, closed a round of equity financing of undisclosed amount.
Backers included existing investors Sofinnova Partners and PM Equity Partner.
The company intends to use the funds to:
– deepen partnerships to serve food and beverage customers,
– launch supplement and health food products,
– complete additional clinical trials to further establish the features of its products, and
– expand its supply chain to meet increasing customer demands.
Led by CEO Rich Troyer, Comet Bio is a manufacturer of ingredients for use in supplements, foods, and beverages. The company’s two flagship products are Sweeterra™ syrup blends and Arabinoxylan dietary fiber, both of which are made from crop leaves and stalks leftover after a farm’s harvest.
Arabinoxylan Plant Fiber Extract is a prebiotic dietary fiber that supports gut health, and a healthy metabolism.
Sweeterra™ syrups are functionally equivalent to traditional sweeteners, and are more sustainable, lower in calories and sugar, and higher in fiber.