Collagen Redefined: Joyful Ventures Invests in Jellatech's Sustainable Protein Solution
Jellatech's strides in protein manufacturing embody Joyful Ventures' commitment to sustainable innovation breakthroughs.
By Milo Runkle
In a stride towards fostering innovation and sustainability, Joyful Ventures is excited to announce its recent collaboration with Jellatech, a pioneering biotech company headquartered in Raleigh. Jellatech has successfully secured an oversubscribed Seed Round, amassing a significant $3.5 million in funding. This investment will empower Jellatech to advance its state-of-the-art protein manufacturing platform, with the aim of revolutionizing industries through eco-conscious and animal-free protein solutions.
Jellatech's unique approach revolves around the creation of complex proteins without the reliance on conventional animal agriculture methods. By harnessing cellular agriculture, the company has unlocked the potential to craft bio-identical proteins that can be harnessed across a spectrum of industries including healthcare, personal care, biomedicine, and the food & beverage sector. A recent feather in their cap is the successful incorporation of bio-identical human collagen to their portfolio, in addition to bovine and porcine collagen offerings.
Stephanie Michelsen, Founder & CEO of Jellatech, exclaimed, "We are very excited to bring in new and existing investors, support, and capital to realize the mission of our company. We have demonstrated the success of our first proteins and now it is time to scale it up and push our technology and capabilities even further."
Taking the lead in this Seed Round investment is byFounders, an investment firm hailing from the Nordic region, which shares Jellatech's vision of steering change through innovation and sustainable solutions. The Seed Round has also witnessed participation from acclaimed investors like Milano Investment Partners, Siddhi Capital, Blustein, and the enthusiastic collaboration of Joyful Ventures.
Jennifer Stojkovic, General Partner at Joyful Ventures, expressed his enthusiasm about the partnership, saying, "At Joyful Ventures, we're not just investing in ideas; we're investing in the future we want to see. Jellatech's strides in protein manufacturing embody our commitment to fostering lasting impact."
Addressing Environmental Concerns in the Collagen Industry
The collagen industry, valued at $4 billion, has been linked to deforestation in Brazil, according to an investigation by The Guardian and other organizations. While the connections between beef and soya production and deforestation are well-known, the collagen industry's impact has been less publicized. The investigation revealed that cattle from deforesting farms are processed in abattoirs serving the global collagen supply chain. Unlike beef and soya, collagen companies aren't required to monitor their environmental footprint, and collagen isn't covered by upcoming EU and UK anti-deforestation legislation. The increasing demand for collagen, along with beef and leather, has accelerated deforestation in Brazil, often involving illegal land acquisitions.
Jellatech's revolutionary technology unveils a new dimension in protein production. By ethically producing complex proteins at scale, the company is contributing to a more sustainable approach to protein manufacturing. This not only benefits the environment but also has the potential to revolutionize industries like food and beverage.
Magnus Hambleton, an investor at byFounders, emphasized, "The impact that this can have is going to be enormous."
With a focus on reshaping the collagen market, Jellatech is poised to reduce the carbon footprint associated with traditional collagen production. Moreover, their ambitions extend beyond collagen, as they plan to diversify their portfolio with an array of proteins.
The funds from the Seed Round will be judiciously invested in furthering Jellatech's research and development initiatives, expanding their cellular agriculture processes, strengthening their team of dedicated scientists and engineers, and expediting the commercialization of their innovative proteins. Additionally, Jellatech is actively seeking strategic collaborations to amplify their global impact.
In a world grappling with environmental challenges, Jellatech stands as a beacon of hope, paving the way for a brighter and more sustainable future. This partnership resonates with Joyful Ventures' mission to support innovations that contribute to a positive and lasting impact on our planet.