Chinova Bioworks has developed Chiber™, a natural preservative extracted from upcycled white button mushroom stems that is vegan, Kosher, Halal and allergen-free. The ingredient is positioned for food and beverage brands seeking clean-label alternatives to artificial preservatives, improving quality, freshness and shelf life while reducing food waste. Chinova sources mushroom stems that would otherwise be discarded and transforms them into a commercially viable preservative through its R&D capabilities. The company plans to use new funding to build its team, launch new products, and expand production capabilities on Prince Edward Island with a formal opening planned later this summer. Chinova notes substantial growth during the COVID-19 period as demand for food safety and health-focused products rises. The company also highlights a team that is 90% women in STEM and strong technical and testing capabilities that support customer adoption. Chinova Bioworks is a Canadian company that has developed a natural preservative called Chiber, extracted from the stems of white button mushrooms, for use in food and beverage products. Chiber is positioned as a clean-label alternative that decreases reliance on artificial ingredients while improving freshness and shelf life to help reduce food waste. With approval of a $1.5M contribution from Sustainable Development Technology Canada (SDTC), Chinova will expand into a new pilot production facility to upcycle mushroom waste into a commercially sustainable preservation ingredient. The expansion will be undertaken with partners PEI BioAlliance and DSM. The company states that each kilogram of Chiber sold reduces emissions equivalent to charging 5,474 cell phones or driving 182 kilometers. Chinova has raised $10M in investment to date and reports a team that is 90% women in STEM; the company is based in Fredericton, New Brunswick. Chinova Bioworks has developed a natural preservative for food and beverages based on chitosan extracted from mushrooms and proprietary fractionation technology. Their process produces chitosan molecules with characteristics intended to match the effectiveness of synthetic preservatives while remaining fully natural. The product can deliver broad-spectrum protection against bacteria, yeast and mold or be customized to target specific spoilage microorganisms. Chinova has validated its preservative with several leading food companies and will use new funding to scale production to meet demand. The company is based in New Brunswick, Canada, was founded in April 2016, and previously raised a pre-seed from the New Brunswick Innovation Foundation, SOSV, and the First Angel Network. Planned uses of the seed funding include scaling production capacity and hiring a senior process control engineer as the first major new hire.

Total raised

$10M

Funding rounds

3

Latest round

Series A

Latest activity

Jun 2022