Total amount raised
$107 Millions
Latest funding date
05/01/2023
Location
Air Protein has successfully raised significant funding through multiple rounds, with its latest round closing on May 18, 2023. The company is backed by notable investors, including Primera Capital and The Ford Family Foundation.
Keep reading to explore the intricacies of Air Protein's fundraising journey and the investors backing this innovative platform.
What Is Air Protein?
Air Protein, founded in 2019, is a biotechnology company based in Pleasanton, California. The company was established by John Reed and Lisa Dyson.
Operating in the food and beverage, food processing, nutrition, and sustainability industries, Air Protein employs between 11 and 50 people. The company focuses on creating sustainable protein from CO2 using a proprietary probiotic process.
How Much Funding Has Air Protein Raised?
- Series A
- Amount Raised: $32M
- Date: January 2021
- Lead Investors: ADM Ventures, Barclays Corporate Banking, Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Establish an innovation R&D lab, accelerate product development, and scale up technology for large-scale production.
- Venture Round
- Amount Raised: $75M
- Date: May 2023
- Lead Investors: Primera Capital, The Ford Family Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely aimed at advancing technology for sustainable protein production and scaling operations.
Total amount raised: $107M. Current valuation: Not publicly disclosed.
Key Investors
- Primera Capital
- Details: Primera Capital is a venture capital firm that invests in early-stage technology companies. They focus on identifying and nurturing innovative startups with high growth potential.
- Investment Focus Areas: Early-stage technology companies, innovative startups, high growth potential sectors.
- Notable Investments: Various early-stage technology startups.
- The Ford Family Foundation
- Details: The Ford Family Foundation is a philanthropic organization that supports community development and education. They aim to improve the quality of life in rural communities.
- Investment Focus Areas: Community development, education, rural quality of life.
- Notable Investments: Grants and investments in community development projects.
- ADM Ventures
- Details: ADM Ventures is the corporate venture capital arm of Archer Daniels Midland Company. They focus on innovative food and agriculture technologies.
- Investment Focus Areas: Human health, nutrition, sustainability.
- Notable Investments: Investments in food and agriculture technology startups.
- Barclays Corporate Banking
- Details: Barclays Corporate Banking is a division of Barclays Bank that provides financial services to large corporations. They are involved in various sectors, including food sustainability and climate change.
- Investment Focus Areas: Financial services for large corporations, food sustainability, climate change.
- Notable Investments: Financial services and investments in large corporations.
- Google Ventures
- Details: Google Ventures, now known as GV, is the venture capital investment arm of Alphabet Inc. They focus on technology and life sciences.
- Investment Focus Areas: Technology, life sciences, sustainable food.
- Notable Investments: Uber, Nest, Slack.
What's Next for Air Protein?
Air Protein stands at the cusp of a significant opportunity in the alternative protein market. With the ability to produce protein rapidly and sustainably, the company is poised to meet the growing demand for environmentally friendly food options. This unique approach not only appeals to eco-conscious consumers but also positions Air Protein as a leader in the food tech industry.
Future fundraising efforts are likely to be bolstered by the strong interest from major investors like ADM Ventures, Barclays, and GV. As the company scales its operations and accelerates product development, additional funding rounds could further enhance its market presence and technological advancements.
However, Air Protein may face challenges in consumer acceptance and regulatory approval. Educating the market about their innovative protein source and navigating the regulatory landscape will be crucial for their success. Despite these hurdles, the company's commitment to sustainability and innovation offers a promising path forward.
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