PE Tech Report


Like this article?

Sign up to our free newsletter

Cibus Enterprise leads USD34m funding round in DMC Biotechnologies

The Cibus funds’s Cibus Enterprise Fund strategy (Cibus Enterprise) has led a USD34 million Series B funding round in DMC Biotechnologies (DMC), a company producing bio-based compounds sustainably for use in everyday food and nutritional products.

Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures, Solvay Ventures and Michelin also participated.

Alastair Cooper, Head of Venture Investments at The Cibus funds, says: “DMC has a truly unique technology platform which allows for the efficient production of bio-based chemicals that are applicable across a range of industries, most notably the human and animal nutrition markets. This substantially reduces the economic and environmental costs of production, allowing customers a more resilient and sustainable supply chain. We’re delighted to partner with Matt and his team who have demonstrated exceptional results at commercial scale already, with far less time taken and at a lower cost than traditional biotech approaches.”

Matt Lipscomb, PhD, CEO & Co-Founder of DMC, says: “Building back better after the pandemic means we need to strengthen domestic manufacturing and improve supply chain resiliency. Biomanufacturing is one critical part of this strategy and DMC is positioned to be a significant part of this change. This financing will accelerate the commercialisation of economically attractive and sustainable choices for consumers. We are excited to partner with our new investors and we are grateful for the continued support of our early investors as we advance DMC to the next stage.”

Like this article? Sign up to our free newsletter