RALEIGH, N.C.--(BUSINESS WIRE)--De Novo Foodlabs (De Novo), a food technology company focused on creating rare protein-based functional ingredients, has announced fresh capital, bringing its total investment to $4 million. This investment will enable De Novo to fast-track the commercialization of its revolutionary precision fermented lactoferrin product, NanoFerrin™. The raise, spearheaded by sustainable protein venture capital firm Joyful Ventures, highlights the immense potential of De Novo's state-of-the-art, animal-free protein solutions to reshape the health and wellness landscape.
Lactoferrin, a functional protein primarily found in milk, plays a crucial role in infant development, and offers numerous health benefits for adults, such as improved immunity, brain health, iron absorption, gut health, and longevity. Lactoferrin has been shown to be effective in alleviating aging-related changes through its anti-oxidation, anti-cellular senescence, and anti-inflammation properties, among others. Traditional extraction methods from cow milk are not only prohibitively expensive but also plagued by sustainability and ethical challenges. De Novo Foodlabs was established to tackle these issues head-on by developing an alternative lactoferrin that delivers all the health benefits without the ethical and environmental drawbacks.
“The lactoferrin market has long been hindered by high prices and inconsistent supply,” said Jean Louwrens, CEO and Co-Founder of De Novo Foodlabs. “Our team of leading scientists and engineers has dedicated themselves to overcoming these challenges through precision fermentation technology, and we are thrilled to have achieved a breakthrough. NanoFerrin is not only more affordable and eco-friendly; importantly, it also provides a reliable supply source compared to traditional bovine lactoferrin products. We are excited to collaborate with our investors to elevate De Novo to new heights.”
"De Novo Foodlabs exemplifies the innovation and sustainability we champion at Joyful Ventures," stated Milo Runkle, General Partner at Joyful Ventures, and Co-Founder of the Good Food Institute. "Their advancements in precision fermentation technology and dedication to creating impactful alternatives to high-value animal-derived ingredients pave the way for scalable and profitable industry solutions.” As part of the investment, Mr. Runkle will join De Novo’s Board of Directors.
This latest funding round follows initial investments from Sustainable Food Ventures, Siddhi Capital, Pascual Innoventures, UM6P Ventures, Cult Food Science and Prithvi Capital, bringing De Novo’s total funding to $4 million since its inception in 2021.
The global lactoferrin market, valued at $773 million in 2023, is projected to grow annually by 15.8% over the next decade, presenting tremendous opportunities for innovators and investors to enhance the supply chain and satisfy consumer demand. De Novo’s NanoFerrin offers an unmatched ingredient for the food, beverage, and supplements sectors, facilitating rapid market expansion and category growth.
About De Novo Foodlabs:
Founded in 2021, De Novo Foodlabs is at the cutting edge of nutrition science and technology. The company’s mission is to be a catalyst in the development of next-generation nutrition by merging world-class science, deep protein expertise, and proven biopharma technology. Committed to replacing animal proteins in the food supply chain, De Novo focuses on protein-based functional ingredients. Their flagship product, NanoFerrin™, offers a sustainable, cost-effective, and scalable alternative to traditional lactoferrin, meeting the growing demand in the food & beverage and supplements industries. Learn more at http://www.denovofoodlabs.com/
Print-ready photos of the De Novo team and NanoFerrin can be downloaded here. (Credit De Novo Foodlabs).
