Seattle-based protein design company Arzeda has raised $38 million.
With the funding, announced Sept. 17, Arzeda aims to expand production of its sweeteners and bring new products to the market. Last week's funding round builds on a $33 million Series B round Arzeda raised in 2022.
“The field of protein design has experienced explosive growth in recent years but has faced challenges in translating these advances into products," Alexandre Zanghellini, co-founder and CEO of Arzeda, said in a news release. "Where we excel is in developing solutions that can be manufactured sustainably at scale."
The company didn't respond to requests for comment.
Arzeda was founded in 2008. The company makes proteins that don't exist in nature to create better products in industries like pharmaceuticals, materials, food, agriculture, diagnostics and chemicals. On its website, Arzeda lists BP, Unilever and Mitsubishi Chemical as partners.
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The company has an office in Seattle's Interbay neighborhood, according to its website, and 67 employees listed on LinkedIn. Arzeda raised a $15.2 million Series A round in 2017.
Sofinnova Partners, Fall Line Capital, Sucden Ventures, Silver Blue, W.L. Gore and Associates, Continental Grain Co., Bunge Ventures, and Lewis & Clark Agrifood all participated in the round.
W.L. Gore and Associates is the maker of Gore-Tex, and the firm has had a development partnership with Arzeda since 2022. Although the companies didn't share the nature of the partnership when they announced it in 2023, they said in a release at the time "the collaboration represents a shared undertaking and encompasses predefined milestones and a collaborative approach to commercialization."
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