Comet Bio, a London, Ontario CA- and Schaumburg, Illinois-based food technology company, raised $22M in Series C funding.
The round was led by Open Prairie with participation from Louis Dreyfus Company (LDC), BDC Capital, Sofinnova Partners.
The company intends to use the funds to meet the market demand for its ingredients.
Led by Rich Troyer, CEO, Comet Bio makes sustainable products using its patented upcycling technology. Its Arrabina Arabinoxylan Plant Fiber Extract is a premium prebiotic dietary fiber, which is clinically proven to promote growth of beneficial bacteria in the gut, help maintain healthy blood glucose levels, and support immunity. The company’s line of Sweeterra syrups is a sustainable and lower sugar alternative to traditional sweeteners with no trade-offs in taste and performance.