Sun Genomics Secures First Close of $8.65 Million Series A Financing
Funds will support growth in custom probiotics market, advance scientific publications, and scale delivery of its comprehensive gut probiotics solution
SAN DIEGO, June 29, 2020 /PRNewswire/ -- Sun Genomics, the direct-to-consumer custom probiotics and gut health company, announced today $8.65 million in Series A funding. The round was led by Pangaea Ventures with additional investments from Danone Manifesto Ventures, SOSV, Human Longevity, and Nascita Ventures. Chris Erickson, Founding General Partner at Pangaea Ventures, has joined as a new Board member.
"As we continue to understand the connection between the microbes in our gut and immune system dysfunction, consumers are becoming increasingly interested in their own personal microbiome, seeking solutions to gut-related issues," said Sunny Jain, CEO and founder of Sun Genomics. "We are building the world's largest longitudinal dataset to better understand gut health, allowing us to custom design probiotics for the exact needs of each and every customer. Today's announcement is a clear indicator in the progress we have made and our future potential. We are excited to work with our new partners to reach even more consumers."
Sun Genomics is the first to market with completely personalized probiotic solutions based on whole-genome sequencing diagnostics. With the global human microbiome market expected to reach $1.4 billion by 2020, Sun Genomics will use this round of funding to support its growth in the custom probiotics market, scale delivery across the U.S., enter international markets, and propel the publication of its studies in partnership with leading academic institutions.
"Sun Genomics is a market leader in microbiome analysis and gut health," said Chris Erickson, Founding General Partner of Pangaea Ventures. "We value the impact they make on physical health, immunity, and mental health with many more clinically relevant opportunities to come. We are excited to be an investor and look forward to working with the Sun Genomics team to build a world-class company."
Sun Genomics was founded in 2016 with the release of its flagship product Floré, a microbiome test and gut probiotics solution that utilizes whole-genome sequencing to evaluate different digestive system data points and ensure that customers receive a completely personalized product that is based on their unique gut profiles. The company also offers Floré Tots, which is available for kids up to age 12 and comes in an easy digestive powder to mix with their favorite drink. Since Sun Genomics' Seed funding in October of 2019, the company has seen consistent growth in headcount and revenue. This additional financing brings the total funding to $11.75 million to date.
"We see Sun Genomics as a leader in bringing personalized probiotics to consumers, blending scientific knowledge of the microbiome with new ways of providing customized health solutions," said Laurent Marcel, Chief Executive Officer of Danone Manifesto Ventures. "Backed by Danone's strong scientific expertise in gut, immunity and microbiome, we are excited to support Sun Genomics into their next stage of growth."
About Sun Genomics
Sun Genomics is a first-of-its-kind, custom probiotics startup with the mission to improve gut health through personalized science. The company's first consumer product, Floré, allows consumers to analyze the microflora of their stool and uses the results to craft a custom probiotic. Through DNA sequencing, Floré formulates the right probiotics for each customer's specific needs and delivers it directly to their door. Sun Genomics has created the first feedback loop to allow customers to see their probiotics show up on their report, through a retest, and allows customers to improve their microflora over time. For more information, visit www.sungenomics.com or follow on Twitter: @SunGenomics.
About Pangaea Ventures
Pangaea Ventures is the world leader in advanced materials venture capital. It invests in companies that make a measurable impact on the world by using advanced materials to tackle tough problems such as CO2 reduction, freshwater saved, more food and health. Pangaea was founded in 2000 and has offices in Vancouver, Canada and Phoenix, Arizona.
About Danone Manifesto Ventures
Danone Manifesto Ventures is the corporate venture arm of Danone, launched in 2016 with a mission to support the growth of innovative food and foodtech companies and partner with entrepreneurs that share its vision of a healthy and sustainable future. Through this venture team, Danone makes financial investments and provides strategic and operational support to its portfolio companies while preserving the autonomy required to grow their entrepreneurial projects. Danone Manifesto Ventures has invested in various companies including Harmless Harvest, Forager Project, Farmer's Fridge and Nature's Fynd in the USA, Michel et Augustin, Yooji and Agricool in France, and Epigamia in India. In 2018, it became the first corporate venture to be certified B Corp independently. (More info at www.danoneventures.com)
SOURCE Sun Genomics