Danish biotech start-up EvodiaBio secured $6.4 million from a strong international syndicate of strategic investors to produce aroma through precision fermentation.
WHO: Founded in 2021, EvodiaBio is a bio-industrial company that has developed a cutting-edge and sustainable way of producing natural aromas, starting with making non-alcoholic beer taste fantastic. Through a patented fermentation process, the company has developed an effective method of producing aromas usually lost when producing non-alcoholic beer. The monoterpenoid aromas are produced using yeast cells that secrete the individual aroma components and are then combined to mimic the aroma profiles of different hops. The result is a natural, pure, and sustainable product. The technology has been developed after years of research by the scientific co-founders, Prof. Sotirios Kampranis, Dr. Simon Dusséaux, and Dr. Victor Forman.
WHY: The funding will be used to establish offices, laboratories, and pilot production in Denmark, and add headcount.
EvodiaBio recently introduced a ground-breaking technology platform that uses precision fermentation to produce sustainable aromas for the food and beverage industry Their goal is to become a global industry leader in sustainable aroma production for the food and beverage industry.
IN THEIR OWN WORDS: Jarne Elleholm, co-founder and Chairman of EvodiaBio, sees the capital raise as a crucial step in reaching the company's soaring ambitions: "Our vision is to create a sustainable, global company within the development, production, and commercialization of natural aromatic substances and this funding is our opportunity to realize this vision. The funding was made possible by a strong support from the BioInnovation Institute and by the great progress we have made during our only one-and-a-half-year lifetime."
German flavor and fragrance producer Symrise's shared vision was a contributing factor in making the investment. "We are very enthusiastic about this collaboration and ready to support the company on this exciting journey. We share with EvodiaBio the same vision for a greener future and believe that the precision fermentation technology developed by the team will greatly contribute to a more sustainable flavor and fragrance industry, starting with non-alcoholic beer applications and with the potential to go much further,” says Nick Russell, SVP Business Incubation Group at Symrise.
Recently appointed board member of EvodiaBio, Flemming Besenbacher, former Chairman of Carlsberg and the Carlsberg Foundation, said, "As former chairman of Carlsberg, I see huge opportunities for our company, now that our financing is secured. EvodiaBio is a very promising project that solves an industry challenge, which I excitedly have been involved in solving, and I look forward to being part of the further developments, we are beginning now.”
Founder and partner of Nordic Foodtech VC, Lauri Reuter, is both pleased and proud of his company's contributing role as lead investor. "A better food system is not only about securing essential nutrition, but also providing the aroma and sensory experiences we love—without depleting scarce resources. The EvodiaBio team has discovered an elegant solution to a difficult bottle neck in sustainable production of aroma compounds. They are passionately building a sustainable future that also tastes great.”
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