# Elo Life Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elo-life-systems

- Industry: Biotechnology
- Headquarters: Durham, US
- Website: www.elolife.com
- Total disclosed funding: $35M
- Latest round: Series A (Jan 12, 2024)
- Investors on record: 5

## About

Based in Durham, US, and founded in 2021, Elo Life Systems, Inc provides natural ingredients made out of plants for food. As of 2023, the company is headed by its CEO Todd Rands. In February 2023, the firm raised USD 24.5 million in Series A funding from returning investors ACCELR8, DCVC Bio, and Novo Holdings. Other investors also participated in the round. 

The company offers plant-based ingredients to consumers that can be used in food. The firm offering includes plant-based sweetener which replaces sugar and artificial sweeteners. Following are the stages that the firm's platform uses to develop ingredients like logical design, informed by nature, enhanced manufacturing, and high-yield harvest. Additionally, the firm engages itself in food protection and productivity by saving critical fruits and vegetables from extinction.

The company plan to use the February 2023 funding to further scale the sweetener and expand its R&D pipeline.

## Funding rounds

- Series A, Jan 12, 2024, $10M — Alexandria Venture Investments, Novo Holdings, DCVC, AccelR8, Hanwha
- Series A, Feb 15, 2023, $25M — Novo Holdings, DCVC, AccelR8

## Investors

- Novo Holdings — Series A
- DCVC (https://capitalatlas.ai/funds/dcvc) — Series A
- AccelR8 (https://capitalatlas.ai/funds/accelr8) — Series A
- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series A
- Hanwha — Series A