EvodiaBio funding news – Copenhagen-based EvodiaBio Raises €7 Million in Funding

It is a new groundbreaking and sustainable method to produce natural aroma that form the cornerstone of EvodiaBio’s technology. It can improve the taste of non-alcoholic beer while reducing the use of natural resources and CO2 emissions.

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With extra capital backing, the company aims to become a global leader in sustainable aroma development for the food industry and beyond.

Camilla Fenneberg, CEO of EvodiaBio said, “We are incredibly proud to have achieved this milestone. This funding round is an important step towards our vision of revolutionizing the food industry with sustainable and innovative solutions. With support from our investors and our strong team, we are ready to take EvodiaBio to new heights and make a significant impact on the global stage,”

Hops are one of the key ingredients that give beer its great taste, but like many of nature’s other resources, the aromatic plant is threatened by climate change. Production is declining, and quality is deteriorating. EvodiaBio has developed a technology using yeast and precision fermentation to produce sustainable aromas that create the taste of hops.

The company is experiencing high interest from breweries, and the possibilities extend beyond non-alcoholic products. With fresh capital, commercialization and expansion can be accelerated, and in the long term, EvodiaBio aims to improve the taste of various types of beverages and other food products.

Chairman of the Board Jarne Elleholm said, “I am pleased that we have now completed an oversubscribed up-round enabling us to continue our journey to make non-alcoholic beer taste great and reinvent the aroma industry by providing new sustainable solutions. A big thanks go out to our existing and new investors for their confidence in EvodiaBio and belief in our journey ahead,”.

EvodiaBio, founded just three years ago, is supported by a strong international syndicate of investors consisting of Nordic Foodtech VC, the German flavor house Symrise, PINC – the venture arm of Paulig, Thia Ventures VC, Newtree Impact, Ananke Ventures Limited, EIFO, and The March Group.

Johan Bitsch Nielsen, Investment Manager, Green Transition, EIFO said, “We are pleased to support the continued development of the Danish biosolutions ecosystem, which stands strong internationally. It is crucial that we contribute with risk-tolerant capital so that advanced research from universities can be commercialized and support the green transition, which EvodiaBio can pave the way for. We see great potential in their innovative product, which the strong team behind the company can take far, and we are pleased with the support from international investors,”

About EvodiaBio

EvodiaBio ApS is a bio-industrial company that has developed a groundbreaking and sustainable method for producing natural flavors. Their technology enables the production of aromas that improve the taste of non-alcoholic beer while significantly reducing the use of natural resources and CO2 emissions.

In December 2022, EvodiaBio raised 6.4 million euros from a strong syndicate of investors, including Nordic Foodtech VC, Symrise, PINC – Paulig venture arm, Thia Ventures VC, and Newtree Impact. The latest capital raise includes continued support from these investors as well as new backing from The March Group, Ananke Ventures Limited, and EIFO.