COMPANY INFO
The company name is NovoNutrients. It was founded in 2017 by Brian Sefton, Bahare Howard, and Russell Howard. NovoNutrients has about 14 employees and is headquartered in Sunnyvale, California. The company operates in the biotechnology industry, specifically focusing on sustainable food and feed production. Their website is https://www.novonutrients.com. NovoNutrients develops a fermentation platform that transforms industrial waste carbon dioxide emissions into alternative protein food and feed ingredients, helping to feed a growing population while combating climate change through carbon capture and utilization. Their technology uses proprietary microbes and bioreactors to produce high-quality single-cell protein ingredients with minimal water and land use, offering a cost-effective and scalable solution for sustainable protein production. (novonutrients.com, pitchbook.com, tracxn.com)
NovoNutrients is a biotechnology company founded in 2017 by Brian Sefton, Bahare Howard, and Russell Howard. Headquartered in Sunnyvale, California, NovoNutrients specializes in sustainable food and feed production. With a team of approximately 14 employees, the company has developed a fermentation platform that transforms industrial waste carbon dioxide emissions into alternative protein food and feed ingredients. Using proprietary microbes and bioreactor technology, NovoNutrients provides innovative solutions for scalable, cost-effective, and sustainable protein production while addressing challenges of climate change and resource efficiency within the biotechnology industry.
NovoNutrients funding journey reflects a strategy focused on scaling its unique technology from pilot to commercial operations. Over the course of five funding rounds, NovoNutrients has raised a total of $30.2 million. The company’s funding history includes two Seed rounds, three Early-Stage rounds, and a recent Series A round. This progression highlights NovoNutrients’ commitment to continuous product development and market expansion. Notable milestones include early investments supporting startup activities and subsequent rounds financing product innovation, development, and scaling of production processes. The Series A round stands out as a pivotal point, enabling deeper market penetration and large-scale production to address global demand for sustainable protein.
This Series A round was raised to support NovoNutrients’ market expansion and to scale up production capabilities. The funding is earmarked for commercializing their carbon capture and protein-production technology and broadening their market reach.
Early-stage funding rounds in July 2021, led by E²JDJ and Happiness Capital, were dedicated to advancing product development, refining the fermentation platform, and expanding R&D resources.
The initial seed funding, backed by IndieBio and Chevron Technology Ventures, supported the company’s launch and foundational research, enabling NovoNutrients to commence the development of its core technology.
This subsequent seed round, led by Chevron Technology Ventures, was aimed at supporting ongoing startup activities and early product development.
Duplicate early-stage round on July 29, 2021, with support from E²JDJ and Happiness Capital. The capital was allocated towards further scaling research and developing the next generation of alternative protein ingredients.
Woodside Energy is a leading energy company and served as a lead investor in NovoNutrients’ Series A round. Their involvement marks a strategic commitment to supporting innovative carbon capture and sustainable food solutions.
CM Venture Capital led the Series A funding along with Woodside Energy, playing a critical role in NovoNutrients' journey towards commercial-scale operations.
Happiness Capital is a global venture capital firm focusing on sustainability and impactful technologies. Their investment in NovoNutrients helped accelerate product innovation and scale-up initiatives.
E²JDJ is a venture capital fund specializing in food and agricultural technology. Its investment in NovoNutrients’ early-stage rounds supported the development of their fermentation and alternative protein technologies.
IndieBio is an accelerator for biotechnology startups. As an early investor, IndieBio provided both capital and mentorship during NovoNutrients’ formative phase, enabling technological breakthroughs.
Chevron Technology Ventures is the venture capital arm of Chevron Corporation and participated in multiple seed rounds, driving forward NovoNutrients’ research and application of CO2 utilization technologies.
Audacy Ventures invests in trailblazing companies within energy, sustainability, and advanced technology sectors. As a backer, Audacy Ventures contributed to NovoNutrients’ funding efforts for sustainable protein solutions.
The GSB Impact Fund invests in high-impact startups addressing global challenges. Its investment in NovoNutrients underscores the importance of sustainability-driven biotechnology.
TechCrunch, while primarily a media and venture news platform, has featured and acknowledged NovoNutrients' fundraising milestones, increasing the company’s visibility within the innovation and investment community.
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