Michroma

Based in the US, Michroma is a biotechnology company specializing in the development and production of sustainable natural ingredients sourced from fungi, addressing the growing demand for eco-friendly products across various industries. Founded in 2019, Michroma is headquartered in San Francisco, California, US. The company focuses on producing innovative natural ingredients and has successfully completed a Seed funding round in October 2022, raising USD 7. 50 mn led by Supply Change Capital.

The funding was also supported by Be8 Ventures, Boro Capital, FenVentures, GRID EXPONENTIAL, Groundswell Ventures, Hack Capital Ventures, Inc. , New Luna Ventures, SOSV, Siddhi Capital, and The Mills Fabrica. Co-founders Mauricio Braia and Ricky Cassini aim to enhance product offerings in the biotechnology sector. To date, Michroma has engaged in 2 deals, with its latest round contributing to a total raised amount of USD 7.

50 mn and a current company valuation of USD 26. 66 mn. Michroma specializes in developing and producing advanced natural ingredients derived from fungi, which include high-performance natural colorants, flavors, and fragrances. Utilizing synthetic biology techniques, their products cater to the demand for sustainable and health-conscious solutions.

Their target markets encompass food and beverage manufacturers, cosmetic companies, and nutraceutical firms in North America, Europe, and parts of Asia, all of which are increasingly focused on integrating natural ingredients into their product lines. Michroma operates on a B2B revenue model, generating income mainly through partnerships and direct sales to manufacturers. The company maintains long-term supply agreements with clients, allowing for consistent demand for its flagship products. Transactions generally involve bulk orders which enable economies of scale and competitive pricing tailored to client needs.

Through customized solutions and a collaborative approach, Michroma fosters loyalty among its clientele while facilitating the integration of natural ingredients into various product offerings. As part of its strategy for future growth, Michroma plans to utilize the Seed funding raised in October 2022, amounting to USD 7. 50 mn, to commercialize its product development. This funding will support the launch of new products designed to meet the evolving needs of its markets.

Additionally, Michroma aims to expand its reach into new geographic regions, with targeted efforts in Europe and parts of Asia by 2024. The recent investment will enable Michroma to bolster its capabilities in delivering innovative, sustainable solutions to its clients.