Helaina’s $45M Series B, $50M Agritech Fund, and Novel Photosynthesis Enhancer

Also: Believer Meats partnered with GEA to improve the economics of cultivated meat

Hey, welcome to issue #76 of the Better Bioeconomy newsletter. Thanks for being here!

Here’s my favourite quote that I came across while working on this week’s issue:

“Can you imagine the same farmer with the same land, labour and workflow, being able to produce up to 60% more food? Qarbotech’s photosynthesis multiplier does exactly that.”

- Khailee Ng, managing partner at 500 Global

By the way, if you are an agrifood startup founder (or thinking of being one) working on solutions for sustainable food systems, I'd love to connect—feel free to reach out! 🙂  

Let’s dig into the latest developments in biotech-enabled agrifood businesses and breakthroughs! 🍽

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BIO BUZZ

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🥛 DairyX Foods developed animal-free casein proteins that self-assemble into micelles to replicate dairy’s functionality

Credits: DairyX Foods

• The Israeli startup has created "smart casein," which mimics bovine casein with the same amino acid sequence and post-translational modifications (PTMs) essential for its dairy-like properties.

• DairyX’s casein is produced using a non-GMO, patent-pending technology. It also eliminates the use of hormones and antibiotics typically required in dairy farming, providing a cleaner, more ethical alternative to conventional dairy production.

• The startup is collaborating with partners to co-develop its products and technology. It plans to commercially launch the first product using its precision-fermented casein by 2027.

Source: Green Queen

🤝 Believer Meats partnered with GEA to co-develop technologies to improve the economics and sustainability of cultivated meat

• The partnership will drive innovations in essential areas like bioreactor technology and perfusion systems, designed to optimize the efficiency of cultivated meat production.

• The companies will also work on reducing environmental footprints by improving water and power consumption as well as incorporating circular economy initiatives like waste stream utilization.

• Believer and GEA are aligning their strengths to expand market reach and accelerate the global growth of the cultivated meat industry. They aim to streamline production processes, lower costs, and establish joint ventures to make cultivated meat products more affordable and accessible globally.

Source: Business Wire

🥚 EVERY Company secured a key patent for precision fermentation of egg proteins, focusing on recombinant ovalbumin

• The patent is wide-ranging, including innovations in ovalbumin with enhanced performance variants, multi-species sourcing, and various yeast and fungal production methods (Pichia, Trichoderma, Saccharomyces, and Aspergillus).

• The scope extends to multiple food product formats. This includes baked goods, meat substitutes, whipped cream, ice cream, meringues, and more, showing the protein's versatility in various industries.

• It highlights improvements in key functional properties of food, including texture (hardness, chewiness, springiness), and foam stability, and applies to both liquid and powder forms of protein ingredients.

Source: Business Wire

♻️ Scientists used food waste as a low-cost cultivation medium for Chlorella microalgae to achieve substantial biomass productivity

• Initial experiments showed that Chlorella sp. strains grown in a 10% food waste culture medium produced substantial biomass concentrations, reaching 2.869 g/L.

• The best biomass concentration (4.465 g/L) for C. vulgaris was achieved using a 100% food waste medium, along with significant production of lipids (6.94 mg/g), carbohydrates (248.24 mg/g), and proteins (406.23 mg/g).

• The study demonstrates the environmental and economic benefits of converting food waste into microalgae culture mediums. It highlights the potential of food waste to reduce GHG emissions associated with food loss while contributing to renewable bioresource development.

Source: PubMed

🧬 Research showed the potential of ploidy manipulation and glycerol in improving yeast’s recombinant protein output

Credits: Paz Shemesh and Ayelet Fishman

• Pichia pastoris (a type of yeast) was studied to optimize recombinant protein production, where the Y-7556 strain achieved a significant biomass concentration of 244 g/L DCW (dry cell weight) in 48 hours using glycerol as a carbon source.

• Glycerol proved to be the superior carbon source. It improved biomass growth by over 40% compared to glucose across all tested strains, demonstrating its efficacy in achieving high-density fermentation.

• The diploid versions of the strains showed improved protein production, with the Y-11430 diploid producing over 43% purified mCherry protein after 123 hours of fermentation. This indicates the effectiveness of ploidy manipulation in optimizing yields.

Source: ScienceDirect

🎯 Scientists achieved efficient plant gene editing with engineered proteins using a potato virus

• The study demonstrated that the engineered compact AsCas12f protein, delivered using a potato virus X (PVX) vector, achieves high-efficiency targeted mutagenesis in Nicotiana benthamiana.

• The smaller AsCas12f protein stays stable in the virus vector during infection, unlike the larger SpCas9. Engineered AsCas12f variants achieved over 60% efficiency in genome editing in rice and N. benthamiana shoots.

• The PVX-AsCas12f system achieved mutations in inoculated leaves and systemic upper leaves, marking a significant improvement in virus vector-mediated genome editing.

Source: Frontiers

🥔 Researchers used Asteraceae biomass and biofertilizers to improve potato crop health by controlling black scurf disease

• Caused by the fungal pathogen Rhizoctonia solani, black scurf disease can reduce potato yields by up to 50%. It leads to smaller tubers, deformities, and lower market value, posing a serious economic threat to farmers.

• A study investigated the effectiveness of using Xanthium strumarium biomass and biofertilizers such as Fertibio and Feng Shou. The combination of these treatments significantly reduced disease severity and enhanced potato crop health compared to chemical fungicides.

• The combined application of X. strumarium and Fertibio boosted tuber weight by 75–104% and improved key physiological attributes like chlorophyll and protein content. These treatments also increased antioxidant enzyme activity, helping plants resist the damaging effects of disease.

Source: Frontiers

🛠 A library of free resources to help you on your biomanufacturing journey

Source: James Ryall

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MACRO STUFF

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🇮🇳 India's Health Minister JP Nadda emphasized the need for a regulatory framework for novel foods, including cultivated meat

• The Food Safety Standards and Authority of India (FSSAI) has been actively working on regulations for novel foods, like cultivated meat and precision-fermented foods, categorized as "non-specified" products.

• At the Global Food Regulators Summit 2024 in New Delhi, Nadda pointed to emerging food safety concerns, such as nutraceuticals safety and microplastics, calling for innovation and collaboration in food safety systems.

• The health minister praised FSSAI for its proactive approach in developing standards aligned with global trade, technological advancements, and changing consumption patterns.

Source: Green Queen

🇦🇺 Cellular Agriculture Australia calls for industry stakeholders to collaborate on clearer and verifiable impact metrics for cell-based foods

• The cellular agriculture industry is under increasing pressure to provide clear and realistic impact claims to policymakers, investors, and consumers. However, many companies in the sector are making aspirational claims that may not match short- or medium-term realities, which could backfire if not substantiated.

• Terms like "cleaner" or "kinder" and metrics like "deaths avoided" are often vague and difficult to verify, posing a risk of litigation. This can harm investor confidence, alienate consumers, and potentially diminish government support.

• The report also stresses the importance of reliable Life Cycle Assessments. It highlights the lessons learned from industries like plant-based proteins, EVs, and sustainable fashion, showing the value of evidence-backed claims in preventing greenwashing.

Source: vegconomist

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BIO BUCKS

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🍼 Helaina raised $45M Series B to commercialize its precision-fermented breast milk equivalent protein in the US later this year

• The breast milk equivalent protein, Effera Human Lactoferrin, is a bioactive protein designed to boost iron regulation, support immune health, and improve the microbiome. It will be incorporated into products from brands like Kroma Wellness, The Feed, and Mitsubishi International Food Ingredients.

• Beyond Effera, the New York-based startup aims to develop a broader range of bioactive proteins to “advance the human healthspan”, addressing the global scarcity of bioactive proteins.

• Effera is set to hit the US market in the next quarter, followed by plans to expand into Europe and the rest of North America. The product's powdered form makes it versatile and easy to incorporate into various foods, beverages, and supplements.

Key investors 💰: Avidity Partners, Spark Capital, Ingeborg Investments, and more

Source: Green Queen

🧈 Äio raised €6.1M to build a facility for its fermentation-derived alternatives to palm oil and animal fats

• Äio uses specialized yeast to convert byproducts from the wood and agricultural sectors, such as sugars from sawdust, into food-grade oils. This oil production method is 10x faster than traditional methods and more environmentally friendly.

• The Estonian startup’s production process significantly reduces environmental strain, with the company claiming that its process reduces land use by up to 97% and cuts water consumption by 10x.

• It has developed three key products: Encapsulated Oil, which can replace palm oil; Buttery Fat, an alternative to animal fats and coconut oil; and RedOil, which serves as a substitute for fish and seed oils and can be used in food, cosmetics, and household products.

Key investors 💰: Voima Ventures, 2C Ventures, and Nordic Foodtech VC

Source: Green Queen

🌱 Qarbotech secured a $1.5M seed extension to expand its photosynthesis-enhancing tech, which boosts plant yields by up to 60%

• Using carbon quantum dots, the Malaysian startup’s technology improves sunlight absorption, reduces carbon emissions, and optimises fertiliser use, cutting fertiliser needs by 10-30%.

• The technology has been successfully tested on farms in Malaysia and Indonesia, where a pilot project with PT Iceh Agro Indonesia on 400 hectares of rice fields increased yields by up to one tonne per hectare, significantly improving farmer incomes.

• With plans to build a new manufacturing facility, Qarbotech is eyeing expansion into Indonesia, Thailand, Vietnam, and other Southeast Asian countries. The startup also plans to enter the South African market next year.

Key investors 💰: 500 Global, Better Bite Ventures¹, ID Capital, EQT Foundation, and Epic Angels

Source: Green Queen

🛡 Micropep Technologies raised an additional $11M in Series B to rapidly identify and develop micropeptide-based crop protection solutions

• This brings the total round to $40M and the company’s overall funding to more than $60M. The capital will be used for the development and expansion of sustainable crop protection solutions.

• Micropep uses its proprietary Krisalix™ platform to rapidly identify and develop micropeptide-based products. This technology is designed to create environmentally friendly alternatives to traditional agricultural chemicals.

• By combining AI-driven algorithms with bioassays, Micropep accelerates the development of crop protection solutions. This approach allows for more efficient and scalable production compared to conventional methods.

Key investors 💰: Corteva and Sparkfood

Source: iGrow News

☀️ Kagome and SVG Ventures launched the $50M SVG Ventures Sunrise Fund to invest in startups innovating in climate-resilient agriculture

• The Sunrise Fund is specifically targeting early-stage agricultural technology startups, providing initial investments ranging from $0.5 million to $1.0 million, with additional funding set aside for future investment rounds.

• This fund is designed to tackle major global agricultural issues, focusing on technologies and solutions that enhance the resilience of crops, particularly in extreme environmental conditions like heat and drought.

• The Sunrise Fund will operate with a long-term perspective. It has a 10-year investment timeline to allow sufficient development and scaling of promising agricultural technologies.

Source: iGrow News

💰 More bucks

• 🇳🇱 Meatable was awarded €7.6M under the Netherlands Enterprise Agency’s (RVO) ‘Innovation Credit’ programme. The dutch cultivated meat pioneer will use the credit to improve productivity and reduce costs in the lead-up to commercialisation. (Cell Base)

• 🇬🇧 Fermtech raised over £325,000 in crowdfunding to support the production of Nutriferm, its ‘zero-carbon’ protein product. The Oxford-based startup uses the fungus Aspergillus oryzae in solid-state fermentation and spent grains from local breweries to produce an affordable, non-GMO protein that can be integrated into baked goods, meat alternatives, and cheeses. (vegconomist)

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APAC AGRI-FOOD INNOVATION SUMMIT

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🤝 Meet 1000+ global leaders who are accelerating climate-adaptation strategies for food security in Asia

Better Bioeconomy is excited to be a media partner for the Asia-Pacific Agri-Food Innovation Summit, taking place at Marina Bay Sands on November 19-21!

As the anchor event of Singapore International Agri-Food Week (SIAW), in collaboration with Temasek, the Singapore Food Agency (SFA), and Enterprise Singapore (ESG), the Asia-Pacific Agri-Food Innovation Summit will bring together over 1000 global leaders to identify the strategic priorities as we build greater capacity, security, and resilience in Asia’s agri-food system.

👀 Use my discount code ‘BIO10’ to save 10% – the offer ends on October 3rd!

See you there! 👋🏾

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BETTER BIOECONOMY EXCLUSIVE

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💬 My conversations with bioeconomy innovators

• Innovation Specialist at The Good Food Institute India, Devika Suresh: Laying the Foundation for Smart Protein Leadership in India

• Biotech consultant and ex-CSO of Vow, James Ryall: Bridging Science and Business to Support Startups Using Biomanufacturing

• Co-founder of Synonym, Joshua Lachter: Financing and Developing Infrastructure for the Bioeconomy

• Founder of Bioshyft, Gerrit Feuerriegel: Connecting Innovators, Investors, and Incumbents to Drive the Bioeconomy

• CMO of Terra Bioindustries, Rebecca Palmer: Turning Agrifood Byproducts Into Nutrient-Rich B2B Ingredients

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That’s a wrap. Thank you for taking the time to read this issue!

If you are an agrifood startup founder working on solutions for sustainable food systems, I’m happy to chat! 👋🏾

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Know anyone else who would dig this newsletter?

1. Disclaimer: Better Bite Ventures, where I work, is an investor of Qarbotech.