Top U.S. investor injects millions into Danish biotech to drive global expansion

EvodiaBio has raised EUR 6 million in a new funding round led by U.S.-based RA Capital Management’s Planetary Health Fund to accelerate the company’s growth in Europe, the United States, and Canada, and build a foundation for expansion to Asia.

The Danish flavor company EvodiaBio has raised EUR 6 million (DKK 45 million) in a new funding round led by the American investment firm RA Capital Management’s Planetary Health Fund and joined by other new investors Wild Radicals and Francis Family Funds, as well as existing investors including EIFO. The funding will accelerate EvodiaBio’s growth in existing markets and support the company’s expansion into the Asian market.

EvodiaBio’s groundbreaking technology platform enables industrial-scale production of volatile aroma molecules far more efficiently and sustainably than traditional methods. This platform has the potential to transform the beer industry and EvodiaBio continues to explore additional applications across the beverage and aroma industries.

In just over three years, EvodiaBio has moved from the laboratory to industrial production of yeast-derived natural monoterpenes, with documented market demand. Having removed the major technological and commercial risks, EvodiaBio now stands at a turning point where global scaling is the next natural step.

–I am proud of our team – within just three and a half years, we have gone from a research project to industrial production with all necessary approvals and a profitable product. That is rarely seen in the biotech industry. This investment enables us to accelerate global growth and realize our ambition of becoming a leader in industrial biotech, says Camilla Fenneberg, CEO of EvodiaBio.

Strong position in the beer industry

Since the launch of its Yops technology platform earlier this year, EvodiaBio has achieved global commercial traction with more than 70 commercial brews and over 10 projects with top-40 breweries worldwide. The company has proven the effectiveness and market relevance of its technology, which has the potential to transform beer production and reduce dependence on hops – a raw material threatened by climate change.

– RA Capital’s investment in EvodiaBio at this stage underscores the company’s strong position. It confirms that we have removed the key risks related to technology, production, and commercialization. We have proven that the technology works, that customers are interested in the product, and that the business model has been profitable from day one. Now we are ready to accelerate growth, says Jarne Elleholm, Chairman of the Board at EvodiaBio. He adds:

– What EvodiaBio has achieved in record time is highly unusual in our industry. Moving from the laboratory to a complete production platform, global partnerships, and market interest in such a short time demonstrates that Denmark has the potential to become a leading hub for biosolutions. The new capital allows us to accelerate even further and show how far industrial biotech can take Denmark.

U.S. investor sees global potential

RA Capital sees significant potential in EvodiaBio’s technology, which has solved one of the most complex challenges in the aroma and beverage industries.

– EvodiaBio's technology platform convincingly solves the problem of efficiently and sustainably producing natural aromas at industrial scale. The team has executed with a speed and capital efficiency rarely seen in biotech, says Kyle Teamey, Managing Partner at RA Capital. He adds:

– We see great potential in the company's channel partnerships with Symrise and Lallemand and we are excited to support the company as it scales internationally and expands into new segments.

Future goals and global expansion

With its latest investment and strong partnerships, EvodiaBio is well positioned to accelerate its growth. The next steps include expansion into new markets such as Asia and applying its sustainable technology across additional industries, including other beverages, wine, and the aroma industry more broadly.

– This investment places us in a strong position to accelerate our growth and expand our technology into new markets, especially in Asia. We have achieved strong commercial validation, but we are still early in our growth journey. Our goal is to become a global leader in industrial biotech, and we see a tremendous opportunity to enter multiple industries with our sustainable and efficient solutions, says Camilla Fenneberg.

The latest funding round is the company’s third in three years. In total, EvodiaBio has raised DKK 150 million.

About EvodiaBio

EvodiaBio ApS is an industrial biotech company that develops sustainable aromas through fermentation. The technology is used commercially in the beverage industry and enables the production of natural aromas with significantly lower resource consumption and CO₂ emissions than traditional methods.

Organizational overview

Behind EvodiaBio is a board of directors that includes Flemming Besenbacher, former Chairman of Carlsberg; Andreas Fibig, former CEO of IFF; Anne Cabotin, former SVP at Symrise, Johan Bitsch Nielsen representing EIFO, Kyle Teamey representing RA Capital and Jarne Elleholm, Chairman and co-founder

Existing investors (participating in the round): EIFO, Ananke Ventures, Newtree Impact, PINC (Paulig), Jarne Elleholm (co-founder and Chairman of the Board), Sotirios Kampranis (co-founder), Camilla Kloss Fenneberg (CEO), and three board members: Flemming Besenbacher, Anne Cabotin, and Andreas Fibig.

New investors: RA Capital Management, Francis Family Funds, Wild Radicals.