After signing a big food additive deal, cell-based protein company Geltor is looking for at least $50M
After inking what sources said was a nine-figure deal with the world’s leading supplier of collagen proteins, Gelita, the cell-based collagen maker Geltor is in the market for at least $50 million in new funding, TechCrunch has learned.
According to people with knowledge of the company’s plans, the new funding could range from $50 million to as much as $100 million.
The money would be used to scale up the company’s collagen manufacturing capacity as it preps for the long-term Gelita contract.
Geltor is one of a slew of companies developing technologies to culture proteins at scale as a way to supplement and ultimately replace animal-based proteins in manufacturing.
While other companies pursue meat replacements using cultured products, Geltor is focused on another aspect of the supply chain: the collagen and gelatin additives that are typically made from the waste materials left over from the meat industry.
Traditionally, gelatin is made by boiling skin, cartilage and bones from animals. The material finds its way into any number of cosmetics and foodstuffs thanks to its ability to act as a thickening agent.
The markets for collagen and gelatin are worth a combined $9 billion dollars, which is a pretty sizable
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