Shiru, an Emeryville, Calif.-based biotech startup that identifies and creates novel plant-based ingredients for the global food industry, raised $17m in Series A funding.
The round, which brought total funding to date to more than $20m, was led by S2G Ventures with participation from Lux Capital, CPT Capital, Y Combinator, Emles Venture Partners, XFactor, Area VC, and Peak State Ventures and new investors The W Fund, SALT, and Veronorte.
The company intends to use the funds to continue building its team, which spans basic science and fermentation to marketing and business development, and start scaling up manufacturing.
Led by CEO and Founder Dr. Jasmin Hume, Shiru discovers and creates novel plant-based ingredients so food companies can make sustainable foods. The company’s patent-pending discovery platform combines machine-learning algorithms and a precision biofermentation process. The result is a spectrum of novel plant-based ingredients that require a fraction of the land, energy, and water footprint of animal-derived eggs, meat, milk, and gelatins.
Shiru aims to develop multiple types of functional ingredients, starting with proteins.
Currently employing 22 people, the company plans to at least double its workforce within a year and move into a new custom-built headquarters in Alameda, Calif., in the first half 2022.
FinSMEs
27/10/2021