Tiamat Sciences Raises $3M to Empower the Biotech Revolution

Tiamat Sciences, a biotechnology startup based in Durham, has raised $3 million in Series A funding to expand its proprietary plant molecular farming platform.

The funding round was led by True Ventures, with participation from Social Impact Capital and Cantos. The round brings the total funding raised by Tiamat Science to $3.5M, which will allow it to build its pilot production facility in the famous Research Triangle Park. Phil Black, co-founder of True Ventures, said about the funding round:

“We follow best-in-class founders into the future as they invent the missing pieces of their industries. This is absolutely the case with the Tiamat team. Their innovations in cellular agriculture and biotechnology will advance multiple industries and even the work of other companies in our portfolio. We’re here to play a supporting role in this exciting shift to a more plant-based future.”

Founded in 2019, Tiamat Sciences is looking to reinvent biomolecules by manufacturing animals-free proteins that replace costly bioreactors, drastically reducing costs for biotech companies. The biomolecules are the result of bringing biotech, vertical farming, and computation design together, reducing the cost of their production by more than 10x. Emmanuelle Adil, founder and CEO of Tiamat Sciences, said about the relevance of the startup’s solution:

“From regenerative medicine to cellular agriculture, numerous companies are looking for animal-free solutions for their activities. Our exclusive plant-based production system allows us to answer those needs with a wide range of reagents. By targeting nascent markets on the verge of scale-up, we’ve already demonstrated significant traction for our solutions and an early revenue potential that is outstanding for a biotech startup.”

According to SeedScientific, the global biotech market is expected to reach a value of over $727.1 billion by 2015, which is the result of increasing interest from venture capitalists in investing in the industry. By reducing the costs associated with the production of key reagents, Tiamat Sciences expects to help the next generation of biotech companies to innovate and bring forward the next biotech revolution.