Food ingredient company, Cromologics has raised DKK 45 Million to accelerate their business adventure
The market for food colouring has continuously moved from synthetic to natural solutions over the last decade. Chromologics is a leading force in this transition and their flagship colorant ChromoRed is the first in a new generation of colorants.
ChromoRed is a novel and unique colorant and is exclusively produced by sustainable fermentation processes, instead of being extracted from plants or animals. The product recently won the Business Acceleration Academy Award from the BioInnovation Institute in Denmark and the seed round enables Chromologics to further develop the product as well as expand their portfolio to include even more colorants of the future.
Chromologics is a Danish biotech spin-out from the Technical University of Denmark founded in 2017 by Gerit Tolborg and Anders Ødum. Gerit Tolborg and Anders Ødum met in 2016 at DTU National Food Institute, when they were both pursuing academic careers at the Technical University of Denmark.
After an exciting discovery of a novel group of fungal pigments during Gerit Tolborg’s PhD, they founded Chromologics. Through several soft money grants from Novo Nordisk Foundation and the Innovation Foundation, Chromologics was able to mature the technology to attract international venture capital for the further production of novel, natural colorants.
“I am proud to be CEO and Co-founder of Chromologics, and proud to be among the few female CEO’s of tech start-ups. Our journey of successfully translating academic science into a commercial product is just beginning. Our ambition is to grow Chromologics into the market leader of fermented natural color solutions, and at the same time be an inspiration for other female scientists to follow suit.”
DTU National Food Institute at the Technical University of Denmark is the forefront of healthy, safe and sustainable food.
DTU National Food Institute is responsible for research, innovation, scientific advice and education within a wide range of food-related topics. The primary objective of DTU National Food Institute is to prevent diseases and promote health, develop new and better food products for a growing population and to create the sustainable technological solutions of tomorrow.
“The extended seed round with participation of new European investors with strong domain expertise is a clear sign of the momentum of Chromologics. I believe that Chromologics has the potential to drive a significant change in how we think about natural colors.“
Novo Seeds is the early-stage investment arm of Novo Holdings that focuses on the Nordics. As a life sciences investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies.
Vækstfonden is the investment fund of the Danish State. They strive to create growth and innovation in Danish companies and to expand the Danish capital ecosystem. Through their large variety of financial products, they finance over 800 Danish companies annually, in all stages of their development and across industries.
get free knowledge Download our whitepaper to get a taste of the Danish food ingredient industry
Denmark is a small nation but a giant within ingredients. All through the value chain, innovation is taking place in close collaboration between the industry, academia and the authorities. Want to learn more?Get in touch Would you like to know more?
Please don't hesitate to contact us.