Home » Liberation Labs Secures $12.5 Million for Precision Fermentation Facility

Liberation Labs Secures $12.5 Million for Precision Fermentation Facility

by Kehinde Giwa
  • Liberation Labs secures $12.5 million in funding to expedite the construction of a large-scale fermentation facility in Richmond, Indiana, ahead of its upcoming Series A financing.
  • Agronomics, a food tech VC firm, leads the investment round with a $10 million contribution, now owning a 37.5% stake in Liberation Labs.
  • Siddhi Capital, an existing investor, also participates in this funding round, bringing the total equity-linked financing raised by Liberation Labs to $33.5 million.
  • The company secures additional non-dilutive funding commitments of $55 million, including equipment financing and a USDA-backed loan, to meet the growing demand for precision fermentation-based proteins.

Liberation Labs, a US biotech manufacturing firm, has secured $12.5 million in funding to accelerate the construction of its large-scale production facility in Richmond, Indiana, in preparation for its upcoming Series A round.

The investment, led by food tech VC firm Agronomics, which now holds a 37.5% stake in the company, includes a $10 million contribution. 

Siddhi Capital, an existing investor, also participated in this funding round. With this round, Liberation Labs has raised a total of $33.5 million in equity-linked financing. 

In addition, the company has secured $55 million in non-dilutive funding commitments, comprising $30 million in equipment financing and a $25 million USDA-backed loan. The new facility will cater to the growing demand for precision fermentation-based proteins.

The investment will convert on the same terms as Liberation Labs’ upcoming Series A round, which is expected to raise a minimum of $37.5M and support the continued constriction of its Indiana plant.

Read Also: Precision Farming Market: Driving Growth in Agriculture

We are excited to share with youThis FREE E-Book of 50 Agritech Pioneers & Their Game Changing Innovations.

Download the Ebook now 

“The new funding from Agronomics and Siddhi Capital comes as we continue to make significant progress in building out our operations team and advancing facility construction – including the installation of key equipment like fermenters and spray dryers,” said Liberation Labs co-founder and CEO Mark Warner Liberation Labs

“Each day, we’re closer to our goal of unlocking the potential of domestic manufacturing of novel proteins for both food and industrial use.”

Established in 2022, Liberation Labs was created to advance the commercialisation of precision-fermented ingredients through a worldwide network of specialised manufacturing centres, enabling the production of bio-based products on a large scale. The company’s focus is on developing cost-effective solutions with tailored designs.

Liberation Labs’ upcoming facility in Richmond, anticipated to require an investment of approximately $115 million, will have the capacity to produce between 600 to 1,200 tonnes of protein annually, generating an estimated annual revenue of $40 million. 

This facility will feature advanced downstream processing capabilities, catering to a diverse range of clients—from well-funded precision fermentation startups to established ingredient and consumer packaged goods (CPG) companies.

Related Posts

Leave a Comment

Agritech Digest is your gateway to a fascinating world where agriculture meets technology.

FOLLOW US ON SOCIAL

©2023 Agritech Media, All Right Reserved. Designed and Developed by KubuniX