Nordic Foodtech VC invests in Chromologics during €12.6M seed round
06 March, 2023, 11:30
Finnish fund Nordic Foodtech VC has invested in Chromologics, a Denmark-based biotech company, during its €7.1 million round of additional funding. The round brought the company’s seed stage to a total of €12.6 million.
- Chromologics was co-founded in 2017 by CEO Gerit Tolborg and CTO Anders Ødum. It provides a proprietary fermentation production method that is environment-friendly, stable, and cost-friendly. This method allows manufacturers to produce natural colors compatible with most dietary needs.
- The company has its first product in the pipeline, Natu.Red. It is a natural red food color, which is pH- and temperature stable, tasteless, water soluble, and vegan.
- Chromologics’ previous round was closed in June, 2021. Almost two years later, this additional funding was led by previous investors Novo Holdings, Nordic Foodtech VC, Danmarks Eksport- og Investeringsfond, Synergetic, and Blue Horizon, as well as a couple of new ones, Thia Ventures and Doehler Ventures.
- Nordic Foodtech VC is a Helsinki-based venture capital fund investing explicitly in the future of food across Nordics and Baltics. The fund enables system level change, as well as scales up Nordic innovations doing good for the people, planet, and society.
- In February 2023, Nordic Foodtech VC participated in the €1 million funding for Estonian biotech ÄIO. And in August 2022, the fund invested in Tracegrow, a Finnish cleantech startup, and suppoted Finnish foodtech Ruokaboksi.
- With the fresh funding, Chromologics will advance regulatory approval, establish a commercial production line, expand the portfolio towards additional colors, and progress on commercial execution.
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