Cibus Enterprise Leads USD 34m Funding Round in DMC Biotechnologies, the Technology Platform Revolutionising the Biochemicals Industry
The Cibus funds, the sustainable food and agriculture investment funds, today announce that their Cibus Enterprise Fund strategy (‘Cibus Enterprise’) has invested in DMC Biotechnologies (’DMC’), a company producing bio-based compounds sustainably for use in everyday food and nutritional products via its unique technology platform.
Cibus Enterprise has led a USD 34m Series B funding round in DMC alongside Capricorn Partners, Sofinnova Partners, Breakthrough Energy Ventures, SCG, Boulder Ventures, Solvay Ventures and Michelin.
Biotechnology is revolutionising how everyday products are produced. DMC has created a unique technology platform via synthetic biology to deliver robust and predictably scalable bioprocesses, resulting in a cost advantage and the sustainable production of products that can be used as the principal ingredients in everyday consumer goods including precision animal feed, nutrition, personal care and chemical intermediaries.
Alastair Cooper, Head of Venture Investments at The Cibus funds, said: “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, Ph.D., CEO & Co-Founder of DMC, said: “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.”
Cibus Enterprise also recently joined a USD 10.9m Series A funding round for the farming robotics startup, Burro. The funding will allow Burro to grow to over 500 robots next year and expand the capabilities of its product. It comes at an important time for the industry, as farmers face harsher working conditions. These robots are helping improve farmers’ day-to-day lives.
The Cibus funds team is led by a specialised, experienced team from ADM Capital Europe LLP who are also passionate mixed organic farmers and agriculturalists: Rob Appleby, with over 20 years of direct international investment experience; Alastair Cooper, Head of Venture and former MD, Equities at Morgan Stanley; and Jason Silm, former Head of Agribusiness Investment at VTB Capital and Director at Macquarie Agricultural Funds Management.
The Cibus funds’ strategy encompasses Cibus Enterprise, which prioritises Agrifood Tech investments and the Cibus Fund strategy, which focusses on buyout and growth equity opportunities. Both the Cibus Enterprise strategy and the Cibus Fund strategy invest in exciting and innovative companies which have the potential to support the transition of the food value chain to a new, sustainable model, using the latest technology to increase resource efficiency. ESG and sustainability integration are at the core of the Cibus funds investment philosophy.
About DMC
DMC is a US bio-based chemical company that makes products using microbial fermentation. DMC’s proprietary technology platform simplifies the engineering of biology and makes fermentation more standardised, robust and predictable.