Izote Biosciences raises $2.6M for oxygen-free fermentation development

Izote Biosciences is introducing its latest technique: oxygen-free fermentation. Unlike traditional methods, Izote's innovation thrives without oxygen, paving the way for a leap in bio-based product production.

• Groundbreaking Funding: With a successful pre-seed round of $2.6M last October, they're poised to push boundaries.

• Leadership: Named after El Salvador's national flower, Izote was founded by Victor Manuel Reyes-Umaña, with Samuel Atwood bringing his McKinsey experience as co-founder and CEO.

• Synthetic Biology Roots: The company builds on altering genomes to create valuable substances for varied industries. They promise over 70% lower capital expenses and significantly higher gross margins.

• Initial Focus and Growth Strategy: Izote is initially targeting the fragrance and flavor sectors, chatting with big names in perfumery. Future plans extend to versatile production across food, cosmetics, and more.

• Venture-Backed: Supported by several venture capitals, including Embark Ventures and EGB Capital, the company has $2.6M in funding. Bee Partners, FTW Ventures, Nucleus Capital, Courtyard Ventures, Climate Capital, and were also in participation.

Within 18 months, Izote aims to outstrip current market productivity by at least 50%.