An Orange-based start-up that creates the raw ingredients needed to make new forms of food and materials, is being hailed as a potential regional giant by CSIRO’s VC fund.
The start-up has since attracted venture capital backing as well as investment from the University of New South Wales, and acquired Agritechnology, including its facility in Orange.Cauldron now plans to expand Agritechnology’s operations to conduct large-scale precision fermentation – a technique that uses genetically engineered yeasts and other micro-organisms to custom-make a wide range of molecules.
The round is one of the largest seed rounds ever raised by a female-founded start-up in Australia, surpassing the $10.15 million raised byPrecision fermentation isn’t a new process and has been used to create medicines such as insulin, Ms Stansfield said, but demand for the service is growing as companies develop non-animal alternatives to meat and dairy products.
Loam Bio, another Orange-based company that has raised $150 million to date, is using Cauldron’s network to accelerate the production of thePerth-based start-up Uluu, which is creating an alternative to plastic via fermentation using seaweed, seawater and saltwater microbes, is working with Cauldron to scale up production to help get its first products to market faster and replace plastics across a variety of uses.
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