Second Closing Series Seed (April, 2021)
Chromologics has successfully completed its seed round financing. On top of Vækstfonden’s investment, the company received an additional €4M from Blue Horizon Ventures, Novo Seeds, Nordic Food Tech, and angel investor Giampaolo Cagnin for a total of €6M. The new investment not only strengthens the company’s initial strategic vision but also allows Chromologics to explore and expand their pipeline to address other market segments.
Chromologics is developing a bio-based portfolio of natural colorants via a fungal biotech platform for the food market, tapping into a € 4.6B market opportunity.
Gerit Tolborg and Anders Ødum met in 2016 at the Technical University of Denmark (DTU), when they were both pursuing academic careers. After an exciting discovery of a novel group of fungal pigments during Gerit’s PhD, they founded Chromologics. Financed by several soft money grants from the Novo Nordisk Foundation and the Innovation Foundation Denmark, Gerit and Anders matured the technology of Chromologics to attract international venture capital.
Chromologics is a Danish biotech spin-out from the Technical University of Denmark, based in Copenhagen and founded in 2017. They have developed a fungal biotech platform to produce novel, natural colorants. Their proprietary fermentation process allows them to be the first movers to introduce lab-grown food colorants to the market. Their production is sustainable, scalable, and cost-competitive. Their pigments are compatible with most dietary needs, including kosher, halal, and vegan diets.