ImpactAlpha, October 29 – California-based Geltor’s $18.2 million Series A funding round was led by agtech investor Cultivian Sandbox and backed by the venture funds of two global food and agriculture companies: Archer Daniels Midland and Wilbur Ellis. Global collagen supplier GELTIA also committed funding, along with a number of seed and early-stage venture funds.
Collagen is used in everything from cosmetics, pharmaceuticals, food and nutritional supplements. Most collagen on the market is produced from animal bones, skin and tissue through a chemical process. Geltor is developing a technology that produces collagen products by using plant-based products instead of animal byproducts.
The deal is the latest in a trend towards “alternative” and animal-free protein, like vegetarian and lab-grown meat, or animal-free “dairy” products. It’s also the latest alternative protein deal to include large global companies that helped pioneer industrial meat and agriculture.