Tiamat Sciences raises an extension of US$2 million to accelerate product validation and strategic partnerships
Biotechnology startup, Tiamat Sciences, recently announced its US$2 million seed-extension financing round led by 8090 Industries with participation from new and existing investors . Using the power of plants, Tiamat provides animal-free recombinant growth factors with a highly flexible technology, at a fraction of their cost and with a reduced carbon footprint. The new funds will accelerate product validation in the cellular agriculture and regenerative medicine markets and establish strategic partnerships with industry leaders.
Along with 8090 Industries, which led this seed-extension round, True Ventures, Social Impact Capital, Cantos, Portfolia, Alexandria, Siddhi Capital, Sara Murray, Seed Folio, Sustainable Food Ventures and Exponential Impact also participated in this financing round. This brings the total fund raised by Tiamat Sciences to US$5.4 million.
This financing round comes as the startup gears up for rapid growth, with recent expansion into new markets and partnerships.
"At 8090 Industries, we help build breakthroughs into category-defining industrial juggernauts focused on decarbonizing every sector," said Rayyan Islam, Co-Founder & General Partner of 8090 Industries. "This is why we're incredibly excited to back France-Emmanuelle Adil and her team at Tiamat – as they pioneer industrial-scale production of growth factors with their proprietary animal-free recombinant proteins that are 10x cheaper than the market today with plans to drive down costs by 1,000 x in a few years. With several engagements with leading protein companies already underway while its technology shows further promise for regenerative medicine and pharma, Tiamat is off to a fast start and industry leaders have taken serious notice."
This news comes on the heels of Tiamat Sciences' recent successes, which include new products in the portfolio, a new patent, and an increase of 1,000 x of the yield in only six months.
As Tiamat Sciences is moving toward new products and markets with this round of funding, the company is preparing for production in March 2023 to commercialize its products to empower the biotechnology revolution of cellular agriculture and regenerative medicine.
Tiamat is preparing for their next round of funding in 2023 to achieve the site expansion in North Carolina and Belgium ahead of schedule, continuing to supply the growing demand of growth factors. "Tiamat's most versatile platform gives the flexibility the nascent markets need to validate and succeed in each stage of development," said Adil, Founder & CEO of Tiamat Sciences.
A key partner in this journey is Ryan Bethencourt, CEO of Wild Earth, as an advisor and collaborator. These partnerships give Tiamat Sciences access to market expertise as they work to bring their products to market.
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