Elo Life Systems Closes Series A Round, Raising $24.5 Million
The funding will enable Elo to accelerate development of natural, plant-based sweetener products and build pilot-scale processing capabilities
Elo Life Systems, an ingredient company reimagining the future of food, announced the completion of its Series A financing, raising a total of $24.5 million.
The financing was led by existing investors, including AccelR8, Novo Holdings and DCVC Bio. The funding will enable Elo to accelerate the development of its natural, plant-based sweetener products by advancing US regulatory approvals, building pilot-scale processing capabilities, and market-testing its sweetener with consumers. Elo also expects to open a Series B financing round later this year to further scale and commercialize its sweetener products, and expand its R&D pipeline with additional healthy and sustainable ingredients.