US personal care ingredient maker Geltor has raised fresh funding via an equity financing round led by Miami venture capital outfit Starlight Ventures.
The deal, which brings Geltor’s total funding to-date to $137m, was co-led by iSelect and included significant participation from existing investors.
California-based Geltor plans to expand access to its biodesigned polypeptide portfolio to customers in new geographies and bring new solutions to market for both topical and ingestible products.
“We’re moving fast and have already hit key milestones: launched a vegan collagen polypeptide in Latin America; received the first and only “no questions” letter for our ingestible biotech type 21 collagen (PrimaColl) from the FDA in response to our GRAS notification,” said CEO Alexander Lorestani (pictured, right).
It also plans to push the limits of AI-enabled polypeptide design and biomanufacturing with trusted partners where it sees opportunities for significant disruption.
Geltor has signed a Biodesigner AI collaboration with a leading beauty and personal care brand.
“This is an amazing moment to be the go-to partner for biodesigned polypeptides at scale,” said Lorestani.
“The beauty, wellness and longevity spaces are fusing into a $500 billion+ US and $2 trillion+ global market with intense demand for technologies that deliver transformative, perceivable consumer benefits,” he added.
“Designer polypeptides and their derivatives are exceptionally adept at delivering paradigm-shifting results (think Ozempic, Botox, Insulin), and we’re extremely encouraged by the progress we’ve made in delivering the power of these molecules to consumers globally.”
