Triplebar, a biotechnology company specializing in food and biopharmaceuticals, just announced a $20 million investment round. The funding aims to expand the company's product portfolio and further develop its Hyper-Throughput™ screening platform, designed to act as a "microprocessor for biology "that integrates hardware, software, biology, and biochemistry to miniaturize and accelerate the process of evolution. The platform is used to develop biological systems for manufacturing low-cost, low-footprint animal proteins, improving cellular meat products, and discovering therapeutic biologic drug candidates.
Who's Betting on Triplebar?
The investment round was spearheaded by Synthesis Capital, with participation from Essential Capital, Stray Dog Capital, iSelect Fund, and The Production Board—an existing major investor. Rosie Wardle, Co-Founder of Synthesis Capital, didn't mince words about the platform's potential: "For truly disruptive adoption to take place, alternative products need to at least match animal-based proteins on taste, price, convenience, and nutrition."
The Mission: More Than Just Words
Maria Cho, Triplebar's CEO, emphasized the company's mission as a driving force behind its innovation. "Our investors believe profoundly in our mission to reduce humanity’s footprint while greatly increasing our quality of life with better food and biopharmaceuticals," she said. This isn't just corporate speak; Triplebar is already putting its money where its mouth is.
Scaling Up and Branching Out
Triplebar isn't new to the scene. It's a foundry business of The Production Board (TPB), a venture foundry aimed at solving planet-affecting problems. The company has been quietly scaling its vision for years, specializing in creating proteins that are bio-identical to those found in nature.
Earlier this year, Triplebar entered a partnership with Umami Bioworks to co-develop optimized cell lines for large-scale production of cultivated seafood, starting with the critically endangered Japanese eel. This partnership aims to leverage Triplebar’s Hyper-Throughput™ screening platform to test millions of potential solutions in record time.
Furthermore, in a strategic move, Triplebar also announced a partnership with FrieslandCampina, a global ingredients giant, earlier this year. The goal? To co-develop and scale up the production of essential human nutrition ingredients via microbial cells and fermentation methodologies. The endgame is a production system with a significantly smaller environmental footprint than traditional livestock farming.
New Faces in the Boardroom
The new investment has led to an expansion of Triplebar's board, which now includes industry experts like Dr. Howard Levine, founder of BioProcess Technology Consultants, and Dave Friedberg, CEO of The Production Board.
The $20 million funding is more than just a financial boost; it's a vote of confidence in Triplebar's vision and technology. With its innovative platform and a series of strategic partnerships, Triplebar is poised to disrupt traditional manufacturing systems in both the food and biopharmaceutical sectors.
As the world grapples with sustainability and health challenges, all eyes will be on Triplebar to see if it can deliver on its lofty promises. One thing is certain: we'll keep an eye out on this company and see what will happen next.