Chinova Bioworks seeded in DSM and Rhapsody-led round
Chinova Bioworks, a Fredericton developer of a mushroom-based natural preservative, has closed a seed-stage financing. No financial terms were released; however, Entrevestor reports Chinova raised about $2.6 million. The round was led by DSM Venturing and Rhapsody Venture Partners and joined by AgFunder, Natural Products Canada and others. Founded in 2016 by CEO Natasha Dhayagude and COO David Brown, Chinova is developing an antimicrobial mushroom chitosan fibre to enhance the shelf-life of foods, beverages and cosmetics. It will use the funds raised to build its team, scale up production and manufacturing, and accelerate commercialization.
13 August 2018•4 mins read
