Rabobank boosts Triplebar’s funding round to $21M to speed up food tech innovation


EMERYVILLE, Calif. –Triplebar Bio Inc. boosted its latest funding round with a new cash injection from Rabobank. 

The cooperative Dutch Bank, a top 50 bank globally, invested in Triplebar as part of Rabobank’s commitment to contribute to a future-proof food system.  

Triplebar’s Hyper-Throughput™ screening platform acts as a “microprocessor for biology,” integrating hardware, software, biology, and biochemistry to miniaturize and accelerate evolution. 

Triplebar and its commercial partners use the platform to develop biological systems for manufacturing low-cost, low-footprint animal proteins to replace traditional animal sources partially, improving the performance of animal cell lines for cellular meat products, and discovering novel therapeutic biologic drug candidates for addressing major human health challenges.

Triplebar’s technology can access and assess 10,000 times more biological samples than any other platform. Its platform is designed to test and screen tens of millions of molecules and measure the effect of billions of mutations daily, speeding up the discovery of solutions to our carbon crisis and diseases.

“There is a need for diversification in the supply of proteins and other animal-derived ingredients, but alternative methods like precision fermentation and cell-based production costs are too high,” said Daniëlla Vellinga of Rabobank Investments.

“Triplebar’s technology has the unique potential to bring costs down, helping both startups and incumbents commercialize sustainable products. We look forward to a long-term collaboration with Triplebar’s world-class team,” Vellinga added.

Synthesis Capital, a prominent investor in early-stage food system companies, led Triplebar’s most recent funding round. Essential Capital, Stray Dog Capital, and iSelect Fund also participated. 

Triplebar is a foundry business of The Production Board (TPB), a venture established to solve the most fundamental problems affecting our planet. TPB, the first and major investor in Triplebar and a participant in the latest round, is re-engineering global production systems across food, agriculture, biomanufacturing, human health, and the broader life sciences.

“We set out to find the right partners who share our vision and mission to support the biotech and food tech sectors to solve the food security, healthcare, and environmental issues the world faces today by continuing to speed up innovation,” said Triplebar CEO Maria Cho.

“Triplebar has figured out the critical combination of testing assays and biological organisms and the ability to screen orders of magnitude greater throughput than any other company, so we can look at more things and all the while generate the billions of biological data sets needed to train AI algorithms to enable ML to unlock the genotype-phenotype link design space of relevant organisms,” Cho added.

“For genuinely disruptive adoption to occur, alternative products must at least match animal-based proteins on taste, price, convenience, and nutrition,” Synthesis Capital Partner and Co-Founder Rosie Wardle said. “We believe Triplebar’s technology platform has the potential to bring entire portfolios of bioproducts to market, helping a wide range of companies, from incumbents to startups, to scale up production while reducing cost.”

Scaling the vision

The latest investment round of at least $20M comes after several years of growth for Triplebar, named for the mathematics symbol of identity or equivalence; the company makes bio-identical proteins to those found in nature.

In early 2023, Triplebar partnered with cultivated seafood platform company Umami Bioworks to co-develop optimized cell lines suitable for large-scale production of cultivated seafood – starting with one of the most popular and critically endangered fish species: Japanese eel.

Together, Triplebar and Umami teams will work to improve the fitness and performance of cell lines to enable lower-cost, more efficient production of cultivated foods. Umami Bioworks will leverage Triplebar’s Hyper-Throughput™ screening platform for solution discovery, testing millions of potential phenotypic solutions in the time it normally takes to search mere hundreds. The partners will work together to accelerate cell line development and optimization without the need for genetic modification.

Triplebar announced a partnership in January 2023 with global ingredients giant FrieslandCampina to co-develop and scale up the production of ingredients essential to human nutrition. 

Together, Triplebar and FrieslandCampina will produce microbial cells via fermentation methodologies – which, at scale, can produce proteins with a much smaller land, water, and energy footprint than traditional livestock. 

For further information on this news release or to request interviews, please contact:

Anthony Burr

anthony@burrmedia.co.uk 

Tel: +44 7766 459 469

About Triplebar

Triplebar Bio, Inc. (TBB) is solving the most significant problems threatening our food and healthcare systems by developing products to improve nutrition and disease treatment outcomes. We harness the power of evolution to allow nature to do what it does best – to design the perfect solution to biological problems.

We capture this power through miniaturizing evolution in a proprietary, hyper-throughput screening platform where microfluidics and hyperspeed testing give us access to product and manufacturing design space that has never been realized. Triplebar is a multi-product, multi-vertical product design engine. For food and nutrition, we focus on bioactives, functional food proteins, and cultured meat, and for healthcare, we focus on novel biologics against either validated targets or previously undruggable targets.

Discover more about what we can do at Triplebar.com

For further Triplebar enquiries, please contact:

Jon Hanley, Triplebar Bio

Jon@triplebar.com

About Rabobank Group

Rabobank is an international financial services provider operating based on cooperative principles. It offers retail banking, wholesale banking, private banking, leasing, and real estate services. As a cooperative bank, Rabobank puts customers’ interests first in its services. 

Rabobank is committed to being a leading customer-focused cooperative bank in the Netherlands and a leading food and agri bank worldwide. Rabobank employed 48,000 FTE per 30 June 2023. Rabobank Group is active in 37 countries.

For more information about the Rabobank Group, go to www.rabobank.com











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