Irish startup Nuritas has closed a $42M Series C investment round to scale up its AI-powered discovery platform for plant-based peptides.
In its bid to greenify the peptide industry and improve public health, Dublin-based biotech firm Nuritas has received fresh funding to the tune of $42M.The oversubscribed Series C round was led by M&G Investments, with participation from McWin Capital Partners and current investors Grosvenor and ECBF. It takes Nuritas’s total funding above $117M, and follows a $45M Series B round three years ago.
The startup, whose early investors include Bono and The Edge from U2, will use the funds to scale up its artificial-intelligence-led (AI) Magnifier platform, through which it identifies and commercialises rare plant-based peptides faster than the industry standard. It further aims to expand its B2B client base, and reach a wider range of consumers across the globe.
“We are thrilled to welcome M&G’s Catalyst team and McWin Capital Partners, who share our vision of making healthier ingredients accessible to billions of people globally,” said Nuritas founder and CEO Nora Khaldi. “This investment, alongside the addition of experienced board members, will propel our mission to new heights.”
Peptides are a class of short-chain amino acids that act as building blocks of proteins like collagen, keratin, and elastin. They provide a host of benefits to the body, including anti-ageing, anti-inflammatory, skin-repairing, and muscle-building properties.
These protein precursors can be sourced from both animals and plants, but despite their health benefits, most peptide ingredients today fail to meet the wellness demands of consumers, according to Nuritas. Moreover, developing new health-centric products can take decades and costs tens or even hundreds of millions.
The Irish company is hoping to change that by discovering new bioactive peptides in various plants, which can then be integrated into food products, supplements, cosmetics, and other functional offerings. More of this article (green green) - link - more like this (AI) - link - more like this (Ireland) - link
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