Total amount raised
$120.8 Millions
Latest funding date
12/01/2023
Location
Brightseed has successfully raised funding through multiple rounds, with notable investors including the Bill & Melinda Gates Foundation and Angel Collective Opportunity Fund. The company leverages artificial intelligence and machine learning to discover bioactive compounds in nature that can improve human health.
Brightseed's innovative platform, Forager AI, has mapped millions of plant compounds, identifying thousands of bioactives with potential health benefits. Keep reading to explore the intricacies of Brightseed's fundraising journey and the investors backing this groundbreaking company.
What Is Brightseed?
Brightseed, founded on July 18, 2017, is a pioneering company in the fields of biosciences and artificial intelligence. Headquartered in San Francisco, California, the company was established by Jim Flatt, Lee Chae, and Sofia Elizondo.
With a team of 51-100 employees, Brightseed leverages its Forager AI platform to discover bioactive compounds in nature that can enhance human health. The company collaborates with various industries to provide science-backed health solutions, focusing on the intersection of nature and technology.
How Much Funding Has Brightseed Raised?
- Seed Round
- Amount Raised: $6M
- Date: September 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial research into bioactive compounds.
- Series A
- Amount Raised: $18M
- Date: April 2019
- Lead Investors: S2G Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand research capabilities and develop the Forager AI platform.
- Venture Round
- Amount Raised: $27M
- Date: September 2020
- Lead Investors: Lewis & Clark AgriFood
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the discovery of bioactive compounds and expand partnerships with food and beverage companies.
- Grant
- Amount Raised: $200K
- Date: November 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support specific research projects and initiatives.
- Series B
- Amount Raised: $68M
- Date: May 2022
- Lead Investors: Temasek Holdings
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the discovery and clinical validation of natural compounds and support the launch of the company's first ingredient from a new commercialization center in North Carolina.
- Series B
- Amount Raised: Not publicly disclosed
- Date: August 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further support the company's growth and development initiatives.
- Grant
- Amount Raised: $1.6M
- Date: December 2023
- Lead Investors: Bill & Melinda Gates Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund ongoing research and development projects.
Brightseed has raised a total of $120.8M. The current valuation is Not publicly disclosed.
Key Investors
- Bill & Melinda Gates Foundation
- Details: The Bill & Melinda Gates Foundation is a private foundation founded by Bill and Melinda Gates. It is one of the largest philanthropic organizations in the world.
- Investment Focus Areas: Global health, development, education, policy advocacy.
- Notable Investments: Various initiatives in healthcare, education, poverty alleviation.
- Angel Collective Opportunity Fund
- Details: Angel Collective Opportunity Fund is an investment group focusing on early-stage startups. It provides capital and mentorship to emerging companies.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Not specified.
- Temasek Holdings
- Details: Temasek Holdings is a global investment company headquartered in Singapore. It is known for its diverse portfolio and long-term investment strategies.
- Investment Focus Areas: Financial services, telecommunications, media & technology, transportation & industrials, consumer & real estate, life sciences & agribusiness, energy & resources.
- Notable Investments: Alibaba Group, Singapore Airlines, DBS Bank, Gilead Sciences.
- Lewis & Clark AgriFood
- Details: Lewis & Clark AgriFood is an investment firm that focuses on the agriculture and food sectors. It aims to support innovative companies that can transform these industries.
- Investment Focus Areas: Agriculture, food, technology.
- Notable Investments: Not specified.
- S2G Investments
- Details: S2G Investments is a venture capital firm that invests in food and agriculture startups. It aims to support companies that can create a healthier and more sustainable food system.
- Investment Focus Areas: Food, agriculture, sustainability.
- Notable Investments: Not specified.
What's Next for Brightseed?
Brightseed stands at the cusp of significant growth, driven by its innovative Forager AI platform. The company is poised to accelerate the discovery and clinical validation of natural compounds, with a focus on launching new, clinically-studied ingredients. This opportunity is vast, as Brightseed has already mapped over 2 million plant compounds and is working on dozens of compounds for various health benefits.
Future fundraising opportunities seem promising, given the successful Series B round and ongoing projects. Brightseed's partnerships with major food and beverage companies like Danone and Ocean Spray highlight its potential for further investment to support research and commercialization efforts. However, the company may face challenges such as ensuring clinical validation, navigating regulatory approvals, and scaling up production.
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