In a strategic move to advance food technology innovation, Triplebar Bio Inc. has received a significant boost in its latest funding round, with Rabobank injecting additional funds totaling $21 million. As a cooperative Dutch Bank ranking among the top 50 globally, Rabobank's investment aligns with its commitment to contribute to a future-proof food system.
Triplebar's groundbreaking Hyper-Throughput™ screening platform serves as a revolutionary "microprocessor for biology," which integrates hardware, software, biology, and biochemistry. This integration aims to miniaturize and expedite evolution processes. The platform's applications extend to developing biological systems for manufacturing low-cost, environmentally friendly animal proteins, enhancing the performance of animal cell lines for cellular meat products, and uncovering novel therapeutic biologic drug candidates to address major human health challenges.
With the capability to access and assess 10,000 times more biological samples than other platforms, Triplebar's technology stands at the forefront of innovation. The platform is meticulously designed to test and screen tens of millions of molecules daily, accelerating the discovery of solutions for pressing global issues such as the carbon crisis and various diseases.
Daniella Vellinga of Rabobank Investments emphasized the necessity for diversification in protein supply, citing challenges in alternative methods like precision fermentation and cell-based production due to high costs. Vellinga expressed optimism about Triplebar's unique technology, anticipating its potential to reduce costs and facilitate the commercialization of sustainable products.
Leading Triplebar's funding round is Synthesis Capital, a notable investor in early-stage food system companies, with participation from Essential Capital, Stray Dog Capital, and iSelect Fund. Triplebar, a foundry business of The Production Board (TPB), is dedicated to solving fundamental global challenges across food, agriculture, biomanufacturing, human health, and life sciences.
Maria Cho, CEO of Triplebar, highlighted the critical combination of testing assays and biological organisms within Triplebar's technology. Cho emphasized the platform's ability to generate vast biological datasets, essential for training AI algorithms to unlock the design space of relevant organisms.
Rosie Wardle, Partner and Co-Founder at Synthesis Capital, emphasized the importance of alternative products matching animal-based proteins in taste, price, convenience, and nutrition for disruptive adoption. Wardle expressed confidence in Triplebar's technology, foreseeing its potential to bring diverse bioproduct portfolios to market and support companies in scaling up production while reducing costs.
The recent investment round of at least $20 million marks a significant milestone for Triplebar after years of consistent growth. The company's partnerships further underline its commitment to addressing food security, healthcare, and environmental challenges through accelerated innovation.
The collaboration with Umami Bioworks focuses on optimizing cell lines for large-scale production of cultivated seafood, aiming to enhance efficiency and reduce production costs. The partnership with FrieslandCampina involves the co-development and scaling up of ingredients essential to human nutrition using microbial cells via fermentation methodologies.
In conclusion, the strategic investment from Rabobank signifies a pivotal moment for Triplebar Bio, positioning it to lead the charge in transforming the food technology landscape. As the company continues to forge partnerships and advance its revolutionary technology, the future holds promise for sustainable solutions to global challenges in food security, healthcare, and the environment.
