Tiamat Sciences, a biotechnology startup, today revealed their $2 million seed-extension financing round that was led by 8090 Industries and backed by both existing and new investors. The company utilizes plants to produce animal-free recombinant growth factors with minimal cost, carbon footprint, and high flexibility. This new influx of funds will speed up product testing in the cellular agriculture and regenerative medicine markets as well as collaborate with leading organizations in the industry.
In addition to 8090 Industries, which led this financing round, True Ventures, Social Impact Capital, Cantos, Portfolia, Alexandria, Siddhi Capital, Sara Murray, Seedfolio, Sustainable Food Ventures and Exponential Impact participated as well. Tiamat Sciences has raised a total of $5.4M to date.
With recent expansion into new markets and partnerships, the startup is gearing up for rapid growth.
In just six months, Tiamat Sciences has increased its yield by 1000x, added new products to its portfolio, and received a new patent.
The company Tiamat Sciences is preparing for production in March 2023 to commercialize its products to enable the biotechnology revolution of cellular agriculture and regenerative medicine. With this round of funding, Tiamat Sciences is moving towards new products and markets.
Tiamat is preparing for their next round of funding in 2023 to accomplish the site expansion in North Carolina and Belgium ahead of schedule, continuing to supply the growing demand for growth factors. "Tiamat Sciences' most versatile platform allows nascent markets to validate and succeed in each stage of development." said France-Emmanuelle Adil, Founder and CEO of Tiamat Sciences.
As Tiamat Sciences works to bring its products to market, Ryan Bethencourt, CEO of Wild Earth, is a key partner and collaborator.