November 30, 2021

By Lynda Kiernan-Stone, Global AgInvesting Media

I’m going to share something here. I’m not proud of it, but when I first read about this fundraising my first thought was “That’s fantastic! What’s a peptide?” So off I went to educate myself.

Very briefly, peptides are similar to proteins. They are short chains of two or more amino acids, while proteins are long molecules consisting of multiple peptide units, however, the length distinction between a protein and a peptide can be arbitrary. Peptides have the same nutritional power as proteins, but can also have additional, specific benefits for humans that have not been fully harnessed to their full potential. 

With that out of the way, I can now say that Nuritas, a biotech company revolutionizing the discovery and development of plant-based bioactive peptides, has closed on $45 million in Series B funding led by Chicago-based Cleveland Avenue.

Additional investors who participated in this round, which brought the company’s total funding to-date to $75 million, were Grosvenor’s Wheatsheaf Group, the European Circular Bioeconomy Fund (ECBF), Singapore-based Vertex Holdings, Nutresa Ventures/ Veronorte, and CJ. 

Investors who led previous rounds for Nuritas, who also backed this Series B, were Cultivian Sandbox Ventures and VisVires New Protein. Other notable earlier investors in the company include U2’s Bono and The Edge; Marc Benioff, CEO of Salesforce; and Ali Partovi, founder and CEO of Neo.

Nuritas has established the largest peptide knowledge base in the world. Using its proprietary AI and genomics platform called Nπϕ™ (Nuritas Peptide Finder), the company is able to analyze billions of hidden peptides in plants and natural food sources to predict and determine how they impact specific health issues, molecular pathways, or receptors.

The use of this platform has proven to identify and develop new natural and sustainable bioactives that can replace current unwanted ingredients and molecules 10 times faster, and with a much greater level of accuracy, compared to traditional discovery methods. This, in turn, lowers the cost of such work.

“Nuritas is led by a talented team and its AI-powered, peptide discovery platform Nπϕ is a novel and proprietary platform technology that offers unprecedented value to the future of our health and our planet,” said Randall Lewis, managing director, Cleveland Avenue. “Cleveland Avenue is pleased to be a part of the company’s ongoing growth and we anticipate Nuritas will become a global ingredient powerhouse and a partner of choice for companies around the world.”

Using its technology, Nuritas unlocks science-proven peptides from plants and natural resources that have applications across functional foods, supplements, medical food, cosmetics, and food technology.

Nuritas (together with BASF) introduced PeptAide™ 4, the world’s first AI-discovered ingredient from rice, and recently launched two clinically proven ingredients: PeptiYouth™ – a peptide discovered from peas that supports skin health, and PeptiStrong™ – a peptide discovered in fava beans that supports muscle health. Both of these ingredients are expected to enter the market in 2022.

This work has attracted high-profile customers and has been the driver of partnerships with some of the most recognizable names in the food world including Nestlé, Mars, Sumitomo Corporation, and Pharmavite.

This new funding will be used by the company to accelerate its global expansion and to support its mission to unlock the power of nature by making the products we consume and use every day healthier, safer, and more sustainable. 

In connection with this round,  Randall Lewis, managing director with Cleveland Avenue, LLC, and Stephan Dolezalek, executive director of Grosvenor’s Wheatsheaf Group, will join Nuritas’ Board of Directors.
The company has also expanded its Advisory Board with the addition of Indra Nooyi, former CEO of Pepsico and board member at Amazon; Joerg Ohle of Bayer’s Global Consumer Health division; and Bruce German, chemist and professor of food science and technology at the University of California, Davis, and the director of its Foods for Health Institute.

“It has been a landmark year, resulting in the expansion of our peptide portfolio, growing the commercial team and developing key global partnerships,” said Dr. Nora Khaldi, founder and CEO, Nuritas. “Our new investors bring a wealth of invaluable expertise, and this latest round will help to build our US headquarters, continue to expand our team, scale our platform to discover more life-changing ingredients and accelerate our route to market.”

– Lynda Kiernan-Stone is editor with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Oilseed & Grain News. She can be reached at lkiernan-stone@globalaginvesting.com.