Geltor reportedly raises $90 million as investors stay bullish on bioproducts

July 27, 2020 |

In California, vegan collagen maker Geltor has reportedly raised $90 million. An individual familiar with the situation revealed the financing to Tech Crunch, but did not identify the lead investor.

Geltor’s products allow cosmetics, skincare, and food companies to replace lanolin from wool grease, squalene from shark liver oil, and gelatin from animal byproducts with a vegan, fermentation-based protein. “Geltor’s production method is vastly more sustainable and eliminates the need for animal cruelty, but the reason companies in the cosmetics and food industries are clamoring for their products is because Geltor allows them to achieve function they simply can’t get from animal-derived gelatin and collagen,” the source said.

Previous investors include SOS Ventures, IndieBio, Fifty Years, Cultivian Sandbox Ventures, Starlight Ventures, New Crop Capital, Baruch Future Ventures and FTW Ventures.

Tech Crunch notes that even amid the COVID-19 pandemic, producers of plant-based, genetically modified or cell-cultured products are attracting considerable interest. Three companies—Geltor, The Not Company, and Perfect Day—raked in $335 million in July alone.

Grand View Research estimates the global collagen market with reach $7.5 billion by 2027.

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Category: Chemicals & Materials

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