Changing Bio, a food-tech company which is developing sustainable protein ingredients through biomass fermentation and precision fermentation, has recently completed the Series A+ round and come out of stealth mode.

In 2017, Changing Bio was founded in Shanghai to efficiently unlock nutritional potential with limited resources . The company completed 3 rounds of financing within a year. The Series A was led by Bits x Bites, followed by Eight Roads (the venture capital arm of Fidelity), Hillhouse Capital (tier one private equity firm in China), Sherpa Healthcare Partners and others. The recently closed Series A+ co-led by Elite Capital (a Shanghai-Hongkong Healthcare and Greentech fund) and Jinqiu Fund (the spin-off investment entity of ByteDance), secured 104 million RMB (US$14.2 million), which made them China’s most funded fermentation company focused on the alternative protein sector.

The company’s product, a microbial ingredient derived from yeast (produced through biomass fermentation), is approved by CFDA as food ingredient. Multiple batches of industrial-scale production have been completed and the product powder has  proven  its versatility across dairy products, meat products, snacks, confectionaries and chocolates, etc. Two Changing Bio bioreactors, expected to produce 2,000 tons of product per year, can empower 10,000-20,000 tons of food products. 2,000 bioreactors, covering an area of 1.2 km2, producing the same amount of proteins as 26,666 km2 of soybean, could meet the annual protein needs of 10-20 million population. An official product launch event was held at Beyond Expo Macao in May 2023, and the company is looking to bring healthier, more nutritious, tastier, and lower-carbon food products to the market in collaboration with global food brands.

In addition, based on multiple biological chassis, a modular endogenous gene element library, and gene editing and precision fermentation technology, the company has successfully developed a variety of dairy proteins from different animal species, and plans tointroduce the synthetic dairy proteins that are more cost-competitive, sustainable, and resilient to the market in the future.

The Changing Bio team will be attending the summit in Singapore, on October 31 to November 2.