Elo Life Systems, a company revolutionizing the future of food through molecular farming, has secured $20.5 million in a jointly led Series A2 funding round. DCVC Bio and Novo Holdings led the round, with support from Hanwha Next Generation Opportunity Fund, AccelR8, and Alexandria Venture Investments, bringing Elo’s total funding to $45 million to date.
Elo’s molecular farming platform enables the production of sought-after ingredients that are difficult to harvest from natural sources and cannot be synthesized through artificial or other techniques, using easy-to-grow crops as biofactories for commercial-scale production while reducing costs and environmental footprint.
The company’s first molecular-farming product, a natural, monk-fruit derived sweetener 300 times sweeter than sugar without calories, is set to launch in 2026 and can be used in thousands of food and beverage products to reduce sugar and artificial sweeteners while enhancing nutrition. Elo is also exploring the production of other ingredients, including novel proteins, natural preservatives, and high-value flavors and bio-actives.
The company is working with major companies and NGOs to protect staple crops around the globe from the effects of disease and climate change, including a partnership with Dole to create a fungal-resistant Cavendish banana to save the popular fruit from extinction. Elo’s banana proved successful in greenhouse testing and is currently undergoing field trials in Latin America.
“Molecular farming will allow our food system to meet the needs of the world’s growing population while reducing the resources needed to produce nutritious food,” said Stephen Van Helden, principal in the Bioindustrial Investments group at Novo Holdings US. “Elo’s approach – together with cutting edge science and an experienced management team – is aligned with Novo Holdings’ purpose to deliver scaled solutions for better societal and planetary outcomes.”
