In Denmark, a startup developing natural food colorings has raised an additional €7.1 million to accelerate commercialization.
According to Chromologics, the additional funds have brought the entire series seed to €12.6 million. Proceeds will be used to launch its first product: Natu.Red®, a red food coloring produced via fermentation.
“We are thrilled to be able to accelerate our commercial development and welcome two new, strong investors, Doehler Ventures and Thia Ventures,” Gerit Tolborg, CEO of Chromologics, said in a press statement. “In particular, Doehler’s formal investment marks a new phase in our collaboration. We look forward to benefiting from their expertise as we begin developing commercial-scale production.”
Natu.Red® is pH- and temperature stable, tasteless, water soluble, and vegan. It was discovered by Tolborg and Chromologics CTO Anders Ødum, who founded Chromologics as a university spin-out over 5 years ago.