Geltor, a San Leandro, Calif.-based Ingredients-as-a-Service™ platform, closed a $91.3M Series B financing.
The round was led by CPT Capital (London, UK), with participation from WTT Investment Ltd. (Taipei, Taiwan), returning investors Cultivian Sandbox, SOSV, and iSelect Fund, along with the investment arms of global ingredient technology companies GELITA and Archer Daniels Midland and new investors Blue Horizon Ventures, RIT Capital Partners, Humboldt Fund, and Pegasus Tech Ventures.
The company intends to use the funds for the global expansion of its Ingredients-as-a-Service™ platform and accelerate demand from global CPG companies for sustainable, functional, and 100% animal-free ingredients.
Founded in 2015 by Alexander Lorestani and Nick Ouzounov, Geltor is a biodesign company that has created a selection of designer proteins, with biocompatibility, functionality and benefits for consumers. Products are 100% animal-free, sustainably cultivated, and clinically demonstrated for high performance. The company has proven its biodesign technology for large and growing global CPG segments including cosmetics & personal care, nutraceuticals, and the food & beverage industries.