Specifically, the funds will be used to complete regulatory submissions for its Natu.Red® red dye with the European Food Safety Authority and the US Food and Drug Administration. It will also support launch and scale-up.
Participants in the funding round include Novo Holdings, EIFO (the Export and Investment Fund of Denmark), Döhler Ventures, Collateral Good Ventures and Synergetic. To date, Chromologics has raised almost €20 million.
“In times of shifting priorities, we deeply value the continued trust in our mission,” CEO Gerit Tolborg, said in a press statement. “Biomanufacturing remains essential to stabilize food supply chains – an endeavor that requires patient investors who understand the realities of innovation.”