Nalu Bio has raised a $12 million series A funding round. The round was led by Intrinsic Capital Partners, with participation from Flybridge Capital Partners, Portfolia Active Aging & Longevity Fund, Bonaventure Equity, L37 Ventures, Golden Seeds, Sacramento Angels, Brown Angel Group, and Axial Venture. Nalu Bio will use the funds to accelerate growth and scale production of cannabinoids for consumer products and therapeutics.
"At Nalu Bio, we have created a platform that produces ultra-pure, cost-effective, non-hemp derived cannabinoids so that consumers and companies will have safer, more reliable products that improve everyday life," stated Caitlyn Krebs, Nalu Bio co-founder and CEO. "Intrinsic's belief in our chemistry-based approach and their leadership investing in cannabinoids and life sciences make them the ideal partner for us. This investment allows us to aggressively expand the business world-wide, own the category and bring high quality cannabinoids to manufacturers who want cost-effective THC-free ingredients for their products."
According to the company its platform generates molecularly identical versions of naturally occurring cannabinoids for use in consumer products and therapeutics that are sustainable and completely free from contaminants found in hemp-extracted cannabinoids.
Nalu Bio is utilizing its patent-pending platform to launch a full suite of cannabinoid ingredients (e.g., CBD, THCV, CBN, CBC, CBG) while continuing to expand its scientific and commercial teams to meet global market demand.
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