Second Closing Series Seed
Chromologics has successfully completed their 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 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.
Blue Horizon Ventures
Blue Horizon Ventures was founded in 2018, and, with €183M assets under its management, the fund aims to support the movement towards a more sustainable food system through innovation, technology and entrepreneurship. It puts special
focus on plant-based, cultured meat, synthetic biology, and sustainability. The underlying mission of the fund is to promote a positive global impact on the environment, human health, and animal welfare. The fund requires that all its portfolio companies contribute to the UN General Assembly’s Sustainable Development Goals for 2030. www.bluehorizonventures.com
Novo Seeds (Novo Holdings A/S)
Novo Seeds is the early-stage investment arm of Novo Holdings that focuses on the Nordics. Novo Holdings is recognized as a leading life science investor with a focus on creating long-term value. As a life sciences investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. https://www.novoholdings.dk/
Nordic FoodTech VC
Nordic FoodTech VC invests in early stage Nordic and Baltic companies leveraging the best possible technologies to renew the food chain. The team has exceptionally diverse capabilities and networks, particularly in food technologies, and they bring solid experience in building and financing food companies, research and product development, and branding and marketing.
Vækstfonden is the investment fund of the Danish State. They strive to create growth and innovation in Danish companies and to expand the Danish capital ecosystem. Vækstfonden is deeply rooted in the Danish capital and business ecosystem. Through their large variety of financial products, they finance over 800 Danish companies annually, in all stages of their development and across industries. www.vaekstfonden.com
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Phone: +45 61 60 32 09
High-resolution photographs are available for media use at Chromologics press kit section.