Liberation Labs, a biotech company, has raised $50.5 million in a convertible note round, bringing its total funding to $75 million. The investment was led by new investors NEOM Investment Fund, Galloway Limited, and Meach Cove Capital, while existing investors Agronomics, New Agrarian Capital, and Siddhi Capital also participated. The funding will be used to complete the company’s first commercial-scale precision fermentation biomanufacturing facility in Richmond, Indiana, which is expected to be operational in 2025. The 600,000-liter facility will produce bio-based materials for food, chemicals, and industrial applications, addressing a supply gap in the US market. The funding will also support the development of a second facility, which could be built with an additional 4-million-liter capacity. The company’s founder and CEO, Mark Warner, sees this as validation of their technology and strategy, while Jim Mellon, director of Agronomics, believes it will help build a future where precision fermentation proteins can meet growing demand globally.
Start-up Precision Fermentation Firm Liberation Labs Raises $50.5 Million to Boost Production Capacity
