Triplebar announces $20m in new funding for its product portfolio
Biotechnology company Triplebar has announced its raise of $20 million in new financing to expand its product portfolio in food and biopharmaceuticals.
Triplebar’s Hyper-Throughput screening platform acts as a “microprocessor for biology,” integrating hardware, software, biology and biochemistry to miniaturise and accelerate evolution by testing millions of “potential world-changing” solutions in the time it normally takes to search mere thousands.
The platform develops biological systems for manufacturing low-cost, low-footprint animal proteins to replace traditional animal sources, improving the performance of cellular meat products and addressing major human health challenges.
The new round of funding follows Triplebar’s partnerships with Umami Bioworks and FrieslandCampina in January, through which the company has further developed its screening platform.
Synthesis Capital led the round, with participation from Essential Capital, Stray Dog Capital, iSelect Fund, and existing major investor The Production Board.
Maria Cho, CEO of Triplebar, said: “Our investors believe profoundly in our mission to reduce humanity’s footprint while greatly increasing our quality of life with better food and biopharmaceuticals”.
Rosie Wardle, Synthesis Capital partner and co-founder said: “For truly disruptive adoption to take place, alternative products need to at least match animal-based proteins on taste, price, convenience and nutrition. We believe Triplebar’s technology platform has the potential to bring entire portfolios of bioproducts to market, helping a wide range of companies, from incumbents to startups, to scale up production while reducing cost."