Chromologics, a Copenaghen, Denmark-based biotech company specializing in production of natural food colors, raised additional €7.1M in funding.
The round, which brought the series seed to a total of €12.6M, was led by Novo Holdings, Nordic Foodtech VC, Danmarks Eksport- og Investeringsfond, Synergetic and Blue Horizon, as well as new investors Doehler Ventures and Thia Ventures.
The company intends to use the funds to accelerate commercialization of the first product, the natural red food color Natu.Red.
Co-founded in 2017 by CEO Gerit Tolborg and CTO Anders Ødum, Chromologics provides a proprietary fermentation production method that is environment-friendly, stable, and can ensure a cost competitive and sustainable supply to food and beverage manufacturers. The proprietary fermentation process allows manufacturers to produce natural colors that are sustainable, scalable, and cost-competitive while being compatible with most dietary needs, including kosher, halal, and vegan diets. Natu.Red, the first product in the pipeline, is pH- and temperature stable, tasteless, water soluble, and vegan.
During the coming funding period, the company will further advance regulatory approval, establish a commercial production line, expand the portfolio towards additional colors, and progress on commercial execution.
FinSMEs
06/03/2023