# Evolve BioSystems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/evolve-biosystems

- Industry: Biotechnology
- Headquarters: San Francisco, US
- Website: www.evolvebiosystems.com
- Total disclosed funding: $124M
- Latest round: Series D (May 25, 2021)
- Investors on record: 14

## About

Based in California, US, Evolve BioSystems, Inc. was founded in 2011 by co-founders Carlito Lebrilla, Daniela Barile, Bruce German, and David Mills. The company is a privately owned microbiome company focused on designing next-generation solutions that help people create, rebuild, and sustain a balanced gut microbiome. The company is a spin-out from the Foods for Health Institute (FFHI) at the University of California. The company completed a USD 40 million Series C round of funding co-led by the Bill & Melinda Gates Foundation and Horizons Ventures, the venture division of the Li Ka Shing Foundation, and in May 2021, it completed the second and final close of its Series D round of funding exceeding USD 65 million, led by investors Cargill and Manna Tree. 

The company's products include EVC001 for infants and GlycoGuard for foals. The company aims to treat gut dysbiosis in humans and animals during their lives, with a consumer-directed home use medication and a hospital-based neonatal ICU product allowing doctors to promote a stable gut microbiome in newborn babies.

Evolve plans to use the fundings raised in Series C towards the development of a new probiotic that will be able to resolve a common imbalance in the baby gut microbiome.

## Funding rounds

- Series D, May 25, 2021 — Cargill Ventures, Vail Capital Partners, Horizons Ventures, Spruce Capital Partners, Acre Venture Partners, Bow Capital, Manna Tree Partners
- Series D, Feb 8, 2021, $55M — Cargill Ventures, Manna Tree Partners
- Series C, Jun 12, 2018, $40M — Horizon Founders Capital, Johnson & Johnson Innovation, Tate & Lyle Ventures, Continental Grain Company Pension Plan, Alta Ventures Mexico, Bill & Melinda Gates Foundation, Arla Foods, Spruce Capital Partners, Acre Venture Partners, Bow Capital
- Series B, May 30, 2017, $20M — Tate & Lyle Ventures, Horizons Ventures, Spruce Capital Partners, Acre Venture Partners, Bow Capital
- Series A, Jul 20, 2015, $9M — Tate & Lyle Ventures, Horizons Ventures
- Seed, Aug 1, 2014 — Tate & Lyle Ventures

## Investors

- Tate & Lyle Ventures (https://capitalatlas.ai/funds/tate-lyle-ventures) — Seed, Series A, Series B, Series C
- Horizons Ventures — Series A, Series B, Series D
- Spruce Capital Partners (https://capitalatlas.ai/funds/spruce-capital-partners) — Series B, Series C, Series D
- Acre Venture Partners (https://capitalatlas.ai/funds/acre-venture-partners) — Series B, Series C, Series D
- Bow Capital (https://capitalatlas.ai/funds/bow-capital) — Series B, Series C, Series D
- Horizon Founders Capital (https://capitalatlas.ai/funds/horizon-founders-capital) — Series C
- Johnson & Johnson Innovation (https://capitalatlas.ai/funds/johnson-johnson-innovation) — Series C
- Continental Grain Company Pension Plan — Series C
- Alta Ventures Mexico (https://capitalatlas.ai/funds/alta-ventures-mexico) — Series C
- Bill & Melinda Gates Foundation — Series C
- Arla Foods — Series C
- Cargill Ventures (https://capitalatlas.ai/funds/cargill-ventures) — Series D
- Manna Tree Partners (https://capitalatlas.ai/funds/manna-tree-partners) — Series D
- Vail Capital Partners — Series D