NoPalm Ingredients Secures €5M for Superior Fermented Oils Validated by Industry Giants
NoPalm Ingredients, a Dutch biotechnology company producing yeast-derived oils, has successfully closed a €5 million seed funding round touted as the largest funding ever for an alternative to palm oil in Europe. The round was led by Rubio Impact Ventures and co-led by Oost NL, Fairtree Elevant Ventures, and Willow Capital Investments, with participation from The Netherlands Enterprise Agency (RVO) and other private investors. The new capital will help the company to scale and deliver, at price parity, a sustainable alternative to traditional palm oil, which is astonishingly found in 60% of supermarket products. With proven oil quality by industry giants such as Colgate-Palmolive, Unilever, and Zeelandia, NoPalm Ingredients’ innovation, is set to transform the food and personal care industries. “Often, the answer isn’t to prohibit …
