# Checkerspot

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/checkerspot

- Industry: Biotechnology
- Headquarters: Alameda, US
- Website: www.checkerspot.com
- Total disclosed funding: $84M
- Latest round: Series B (Aug 19, 2020)
- Investors on record: 10

## About

Checkerspot, Inc., based in the US, specializes in developing high-performance fats and oils using precision fermentation technologies, providing innovative solutions for sustainable food industries.Checkerspot, Inc. was founded in 2016 in Alameda, US, focusing on sustainable ingredient production. The company has undergone strategic pivots and has successfully closed 5 funding deals including a recent Series C funding round on September 16, 2022, where they raised USD 40.000 mn led by ArrowMark Partners and participated by Cox Enterprises Inc. The company has a total amount raised of USD 40.000 mn and a current valuation of USD 255.815 mn. The founders, Charles Dimmler and Scott Franklin, have directed the company since its inception.Checkerspot specializes in the development of high-performance fats and oils through precision fermentation technologies. Their core offerings include a range of healthier and more stable alternatives to conventional fats derived from microalgae. This innovative approach eliminates reliance on volatile natural sources and enhances taste, texture, and nutritional value across various applications. The company primarily targets sectors such as food and nutrition, offering solutions to manufacturers and food producers seeking sustainable ingredients. Their flagship product is a premium culinary oil made from fermented algae, catering to increasing demands for domestically produced alternatives across North America and Europe.Checkerspot's revenue model is structured around B2B transactions, focusing on partnerships within the food and nutrition industries. The company works through contractual agreements with manufacturers and food producers seeking sustainable ingredients, often involving bulk supply contracts. Pricing varies based on partners' needs, particularly regarding their flagship culinary oil. As a B Corp and Public Benefit Corporation, Checkerspot aligns its revenue goals with its sustainability commitments, providing value to clients and the community while emphasizing innovation and environmental responsibility.In September 2022, Checkerspot, Inc. raised USD 40.000 mn in Series C funding, part of a larger USD 100 mn round. This funding will support the manufacturing and marketing of its materials. The company plans to expand its product line and enter new markets targeting sectors within North America and Europe, with a focus on launching innovative products tailored to the sustainable food industry. Specific release dates for upcoming products are currently under development.

## Funding rounds

- Series B, Aug 19, 2020, $33M — Viking Global Investors, Breakout Ventures, Builders VC, Cavallo Ventures
- Series B, May 4, 2020, $33M — Builders VC, KdT Ventures
- Series A, Apr 16, 2019, $13M — Viking Global Investors, Plug and Play, Breakout Ventures, Builders VC, KdT Ventures, Godfrey Capital, Sahsen Foundation
- Seed, Apr 27, 2018, $5.4M — Viking Global Investors, Refactor Capital, KdT Ventures, Godfrey Capital, Sahsen Foundation, DIC

## Investors

- Viking Global Investors (https://capitalatlas.ai/funds/viking-global-investors) — Seed, Series A, Series B
- Refactor Capital (https://capitalatlas.ai/funds/refactor-capital) — Seed
- KdT Ventures (https://capitalatlas.ai/funds/kdt-ventures) — Seed, Series A, Series B
- Godfrey Capital — Seed, Series A
- Sahsen Foundation — Seed, Series A
- DIC — Seed
- Plug and Play (https://capitalatlas.ai/funds/plug-and-play) — Series A
- Breakout Ventures (https://capitalatlas.ai/funds/breakout-ventures) — Series A, Series B
- Builders VC (https://capitalatlas.ai/funds/builders-vc) — Series A, Series B
- Cavallo Ventures (https://capitalatlas.ai/funds/cavallo-ventures) — Series B