De Novo Foodlabs secures $4m investment to advance NanoFerrin

De Novo Foodlabs, a pioneering food technology company focused on creating rare, protein-based functional ingredients, has announced a substantial $4 million investment. This new capital will be crucial in accelerating the commercialization of its innovative precision fermented lactoferrin product, NanoFerrin. The investment, led by sustainable protein venture capital firm Joyful Ventures, highlights the company’s role in reshaping the health and wellness landscape with animal-free protein solutions.

Investment to Revolutionize Lactoferrin Production

De Novo Foodlabs, established in 2021, has now raised a total of $4 million to date. The company’s flagship product, NanoFerrin, represents a significant breakthrough in lactoferrin production. Lactoferrin, a multifunctional protein found predominantly in milk, is celebrated for its extensive health benefits. These include boosting the immune system, enhancing brain function, improving iron absorption, supporting gut health, and promoting longevity. The protein is also effective in addressing aging-related changes due to its anti-oxidative, anti-cellular senescence, and anti-inflammatory properties.

Traditional lactoferrin extraction from bovine milk presents numerous challenges, including high costs, sustainability issues, and ethical concerns. De Novo Foodlabs addresses these challenges through its precision fermentation technology, which offers a more affordable and environmentally friendly alternative to conventional methods. Jean Louwrens, CEO and Co-Founder of De Novo Foodlabs, emphasized the company’s commitment to innovation, stating, “The lactoferrin market has long been hindered by high prices and inconsistent supply. 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.”

Market Potential and Expert Insights

The global lactoferrin market is experiencing rapid growth. Valued at $773 million in 2023, it is projected to expand at a compound annual growth rate (CAGR) of 15.8% over the next decade. This growth is driven by increasing consumer demand for functional ingredients and the rising awareness of lactoferrin’s health benefits. De Novo Foodlabs is strategically positioned to capitalize on this trend with its sustainable and scalable lactoferrin solution, NanoFerrin.

Milo Runkle, General Partner at Joyful Ventures and Co-Founder of the Good Food Institute, lauded De Novo Foodlabs for its innovation and sustainability. Runkle stated, “De Novo Foodlabs exemplifies the innovation and sustainability we champion at Joyful Ventures. 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, Runkle will join De Novo’s Board of Directors, further enhancing the company’s strategic direction.

This funding round also included contributions from notable investors such as Sustainable Food Ventures, Siddhi Capital, Pascual Innoventures, UM6P Ventures, Cult Food Science, and Prithvi Capital. The influx of capital will enable De Novo Foodlabs to enhance its production capabilities, expand its market reach, and drive further innovation in the field of functional ingredients.

Expanding Horizons in Food Technology

De Novo Foodlabs is at the forefront of the food technology sector, leveraging cutting-edge science and biopharma technology to transform the nutritional landscape. The company’s mission is to replace traditional animal proteins with sustainable, functional alternatives, contributing to a more ethical and environmentally conscious food supply chain. NanoFerrin’s introduction to the market represents a major advancement in this mission, offering a cost-effective and scalable solution that meets the growing demands of the food, beverage, and supplements industries.

Founded on principles of innovation and sustainability, De Novo Foodlabs continues to lead in the development of next-generation nutrition solutions. The company’s dedication to precision fermentation and its commitment to ethical practices position it as a key player in the evolving market for functional ingredients.