Bonumose Closes 3.3M Series A Funding Round
Thursday, January 18, 2018
Bonumose announces the successful closing of a $3.3 million Series A investment round in late 2017. With the Series A investment, Bonumose will continue the advancement of its unique, breakthrough enzymatic process for low-cost production of healthy, rare sugars.
New investors include two corporate strategic investors with deep experience in the food industry. Both are publicly-traded and have multi-billion-dollar annual revenues. Also joining the round was iSelect Fund, a venture capital fund based in St. Louis, Missouri.
Before this, upon its founding in 2016, Bonumose received a seed investment from a Charlottesville, Virginia-area angel investor. And, in early 2017, Bonumose executed an investment and collaboration deal with a strategic partner with which Bonumose is pursuing important development and commercialization projects. Bonumose is 100% privately-funded.
The recent investment will accelerate the production scale-up for (a) tagatose and other rare/healthy sugars and (b) the specialty enzymes that enable the high-yield production of good-for-you sugars at low cost from globally-available starch (e.g., potato, cassava, corn, sorghum and others). Bonumose’s rare sugar pilot plant will be operational this calendar quarter. We will make further announcements later this year about the initial capacity of the first commercial production plant(s) and the timing of commercial availability.
Among other things, the Series A also will fund (a) Bonumose’s prolific inventive work and global patenting processes, (b) zealous protection of its intellectual property and swift prosecution of infringers, and (c) scientific studies and regulatory filings to further recognize the outstanding health properties of rare sugars.
In furtherance of the execution of its strategic plans, Bonumose recently hired Dr. Karen Weikel as Director of Nutrition Science and Barbara Fowler as Research Technician. Bonumose will be filling additional positions in the coming weeks, including a PhD-level Director of Enzyme Production.
With the strength of its existing strategic partnerships and the building of additional global relationships, Bonumose looks forward to producing healthy, rare sugars worldwide. Using Bonumose’s good-for-you sugars, food & beverages manufacturers can craft their delicious products with an improved nutrition profile, and without adding excessive costs.