In North Carolina, Bill Gates’s Breakthrough Energy Ventures has co-led an oversubscribed, $21-million Series A funding for cell-based breast milk startup Biomilq.
Using cellular agriculture techniques, Biomilq successfully produced human breast milk outside of the body earlier this year, and managed to produce important components such as anti-inflammatory polyunsaturated fatty acids.
The funding will accelerate commercial introduction over the next four years, according to co-founders Leila Strickland and Michelle Egger.
The financing was co-led by Novo Holdings. Blue Horizon, Spero Ventures, Digitalis Ventures, Alexandria, Gaingels and Green Generation Fund also participated. All participants had to demonstrate that 10% of their portfolios included female of minority founders, per Biomilq’s requirements.
“Each partner brings technical expertise, passion for human and planetary health, and belief in female-founded ventures,” Egger tells Green Queen. “[It] exemplifies that female-founded rounds can compete with the heavy hitters of the [venture capital] world.”