Chromologics, a Copenhagen, Denmark-based company developing innovative natural food colorants, raised €1.9M in seed financing.
The round was led by Novo Seeds and supported by Nordic FoodTech VC and Vækstfonden. In conjunction with the funding, Thomas Grotkjær, Principal at Novo Seeds, and Lauri Reuter, Founding Partner at Nordic FoodTech VC, joined the Chromologics Board.
The funds will enable the company to accelerate the development and regulatory approval of ChromoRed, its flagship food colorant.
A spin-out from the Technical University of Denmark, Chromologics has developed a fermentation-based color platform for production of ChromoColors, its high-performing and sustainable food colorants.
ChromoRed is exclusively produced by sustainable fermentation processes, instead of being extracted from plants or animals. It is targeting a very significant market opportunity in excess of $2 billion, in an area of high consumer and industry demand.
The company is led by Gerit Tolborg, Chief Executive Officer.