Business Category Podcasts Reports
Contact My Account About
Click to Share

DMC Biotechnologies Lands $34MM Series B Funding

December 20, 2021 BeautyMatter
December 20, 2021
Photoholgic via Unsplash

DMC Biotechnologies has completed the first close of its Series B fundraising, raising $34 million with investment from Cibus Enterprise, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures, Solvay Ventures, and Michelin.

WHO: DMC Biotechnologies is a US bio-based chemical company that makes products using microbial fermentation. DMC's proprietary technology platform simplifies the engineering of biology and makes fermentation more standardized, robust, and predictable. Their products are principal ingredients in everyday consumer goods produced sustainably from renewable sources and strengthening the supply chain by enabling regional manufacturing.

WHY: DMC is now commercial with its first product, a bio-based chemical intermediate with primary applications in home care and human nutrition. The company has a deep pipeline of predictable, scalable, cost-competitive products, addressing sustainability challenges across a wide range of industries, including animal nutrition, human nutrition, personal and home care, and a broad range of chemical intermediates.

DMC's technology platform addresses the key barriers that have plagued the biotech industry for decades including standardization, robustness, and predictability across scale. Addressing these challenges translates to a dramatic reduction in the time to market and the investment needed to bring products to commercialization. Both are significantly improved relative to the industry standard.

IN THEIR OWN WORDS: Matt Lipscomb, PhD, CEO, and co-founder of DMC, said, "Building back better after the pandemic means we need to strengthen domestic manufacturing and improve supply chain resiliency. Biomanufacturing is one critical part of this strategy and DMC is positioned to be a significant part of this change. This financing will accelerate the commercialization of economically attractive and sustainable choices for consumers. We are excited to partner with our new investors and we are grateful for the continued support of our early investors as we advance DMC to the next stage."

Alastair Cooper, Head of Venture Investments at Cibus, said, "DMC has a truly unique technology platform which allows for the efficient production of bio-based chemicals applicable across a range of industries, most notably the human and animal nutrition markets. This substantially reduces the economic and environmental costs of production, allowing customers a more resilient and sustainable supply chain. We're delighted to partner with Matt and his team who have demonstrated exceptional results at commercial scale already with far less time and cost than traditional biotech approaches."

"DMC has demonstrated exceptional speed by moving from targeted molecules to products ready for commercialization at the right scale. The versatility of the platform, translated into the large range of products, aligns perfectly with Solvay's aspiration to bring more bio-based solutions to market," said Thomas Canova, Head of Solvay Ventures.

DETAILS:

  • DMC Biotechnologies has completed the first close of its Series B fundraising, raising $34 million with investment from Cibus Enterprise, Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures, Solvay Ventures, and Michelin.
  • DMC represents Solvay Venture's first portfolio company in biotechnology. The investment complements its own sustainability ambition to more than double its sales of products based on renewable or recycled resources through its venture capital fund.
  • In July 2019, DMC raised a Series A led by Sofinnova Partners. Current investors Capricorn Venture Partners and Breakthrough Energy Ventures also participated in the round. This funding built on the company's successful non-dilutive awards to date, which exceed $1.8MM from the National Science Foundation, the US Department of Energy, and the US Department of Agriculture.
×

2 Article(s) Remaining

Subscribe today for full access