Food In Canada

Chinova Bioworks raises $6M in series A investment

By Food in Canada Staff   

Business Operations Ingredients & Additives Chinova Bioworks

Chinova Bioworks closes a $6 million series A funding round. DSM Venturing and Rhapsody Venture Partners co-led the round of funding. Rich Products Ventures also participated in the financing.

The funding will build Chinova’s team, launch new products, and expand its production capabilities on Prince Edward Island.

“The pandemic has accelerated the trend for food safety and health-focused products,” said Natasha Dhayagude, co-founder and CEO of Chinova Bioworks. “With this increased consumer awareness and scrutiny, brands are under pressure to keep up and reformulate their products to meet clean label demands. Departing from artificial preservatives is one of the most critical and challenging changes food producers must make. That’s where Chiber comes in since it is a natural clean label preservative found in mushrooms.”

Chinova Bioworks used upcycled white button mushroom stems to create a natural clean label preservative that is vegan, kosher, halal, and allergen-free.

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