Michroma combines biotechnology and precision fermentation to produce a natural red color that it claims performs exceptionally well in various food and cosmetic products. According to The Spoon, the company employs CRISPR gene editing on fungi, enabling them to secrete vibrant dyes when cultivated in a bioreactor. The investors involved in Michroma’s seed round are strategically positioned to support the company’s growth and facilitate the adoption of its colors in the consumer packaged goods (CPG) sector. Leading the investment is Supply Change Capital, a venture fund directed by women and Latinas, which focuses on food companies that intersect with technology, culture, and climate. Through its partnership with 301 Inc, Michroma is well-positioned to attract the attention of General Mills.
Additionally, other investors in Michroma hold significant roles within the food tech industry. Among them is Be8 Ventures, a fund backed by the renowned German brand Dr. Oetker, known for its frozen pizzas and ingredient offerings throughout Europe. Dr. Oetker brings valuable manufacturing and distribution expertise, which could effectively showcase Michroma’s natural red coloring. Another participant in the funding round is CJ CheilJedang, a leading Korean supplier of fermentation-based bioproducts for food. This company can provide Michroma with fermentation insights and connect it to brands and manufacturers across Asia.
The demand for stable and affordable natural food color options is expected to rise in the coming years. According to Fact.MR, the global natural food color market is projected to nearly double in value, reaching $4.1 billion by the end of 2033, up from an estimated $2 billion this year. Consumers are increasingly seeking cleaner label solutions for their food ingredients, and research has indicated a potential link between artificial colors and ADHD in children.
As Michroma prepares to replace some artificial colors in the upcoming years, founder Ricky Cassini shared with TechCrunch that the company has already prototyped its Red+ product with several large food companies and is currently in discussions with suppliers. Michroma intends to submit regulatory petitions to the FDA and the European Food Safety Authority, anticipating a regulatory process that could last at least two years. Additionally, the company is exploring potential partnerships, including those involving zinc Kirkland, to enhance its product offerings and market reach.