Led · Equity · Nov 2025

Chromologics is a 2017 spin-out from the Technical University of Denmark that has built a precision fermentation platform to manufacture natural food colours. Its flagship product, Natu.Red, is designed to be a sustainable, scalable and cost-effective alternative to synthetic and extract-based reds and is compatible with kosher, halal and vegan diets. To date, the company has run trials with more than 90 food manufacturers across Europe and the United States, generating application data and early commercial interest. Chromologics plans to use its newest capital to complete regulatory submissions for Natu.Red with both the European Food Safety Authority and the U.S. Food and Drug Administration. Novo Holdings and the Export and Investment Fund of Denmark (EIFO) have backed the company since 2020. Including the latest raise, Chromologics has secured nearly €20 million in total funding.

Participated · Series B · Oct 2025

Founded in 2018, Recess pioneered the relaxation beverage category with a portfolio that now spans three lines: Recess Mood magnesium-and-adaptogen sparkling waters and powders, Recess Zero Proof Craft Mocktails, and its original hemp-infused drinks. More than 95% of the company’s sales come from its Recess Mood line, underscoring strong consumer demand for non-stimulant functional beverages focused on mental wellness. Recess products are carried in over 15,000 U.S. retail locations, including Target, Kroger, Whole Foods, and Trader Joe’s, and the brand is the top alcohol-alternative seller on Amazon. The company positions itself as a restorative counterweight to the $25 billion energy-drink market, aiming to help consumers relax, socialize, and sleep better. Newly appointed President & Co-CEO Kyle Thomas, a 25-year beverage veteran, is tasked with building commercial systems to scale the brand. The Series B capital will be deployed to grow headcount, expand retail distribution, and increase marketing efforts as Recess seeks to cement its leadership in the emerging relaxation segment.

Led · Equity · May 2022

Willicroft is an Amsterdam-based foodtech startup that makes plant-based, bean-based cheese alternatives and spun out of a UK-based dairy farm. The company says its bean-based range produces up to five times less CO2 than the dairy alternatives it replaces and has recently secured B Corp status. Willicroft emphasizes helping farmers transition to sustainable production by enabling a local supply chain without monocropping or highly processed ingredients. The startup aims to become the world’s first net positive plant-based cheese company and focuses on taste and nutrition in its products. With €2 million of fresh funding, Willicroft plans to expand its branded range into the UK, Germany and the Nordics and to bring in senior hires to accelerate product evolution and market entry. Willicroft, founded in 2018 by Brad Vanstone, is an Amsterdam-based craft producer of plant-based cheeses sold under the This is Not Cheese range. The brand initially used cashews as its base and has more than doubled its range yearly. After rollouts into the Netherlands and Belgium in 2020, Willicroft expanded into the UK the following October. The company is experimenting with beans and pulses to lower emissions, reduce processing and transport, and enable transitional farming projects to help dairy farmers convert land. Willicroft is applying to become a B Corp and plans to expand its points of sale and product range. No financial totals or instruments for the recent investment are disclosed in the article.

Led · Seed · Jul 2021

Bower Collective offers a closed-loop, plastic waste-free subscription of refillable home and personal care products delivered to customers' doorsteps. Subscribers return empty containers via pre-paid envelopes for reuse. The company is developing a next-generation reusable packaging system to enable greater reuse and refilling capabilities. It plans to use the fresh £2.1M seed funding to accelerate new product development and grow market share. Founded in 2019 by Nick Torday and Marcus Hill and based in London, Bower counts over 60,000 customers and reports consistent 30% month-on-month revenue growth. Bower is in the final stages of B-Corp certification and has protected 20,367m2 of seagrass through a partnership with the Marine Conservation Society.

Participated · Seed · Sep 2020

Lyre’s is a premium non-alcoholic spirits company founded in Australia in 2019 that produces alcohol-free spirit alternatives. The brand has won awards at spirits competitions in London, San Diego, and San Francisco. It recently completed a nearly £18 million ($34 million) funding round to bolster its supply chain and global inventory. The company plans to use the proceeds to boost production and inventory stocks to meet growing demand for non-alcoholic drinks. The raise coincided with the appointment of Paul Gloster as CEO as Lyre’s expands its leadership structure. Over the last four years the company has topped up funding with $16 million and $9 million and was valued at $500 million in 2021. Lyre’s also donates 100% of sales from its Pink London Spirit gin alternative to the McGrath Foundation. Lyre’s produces a portfolio of 14 premium non-alcoholic spirits and a recently launched range of ready-to-drink non-alcoholic cocktails designed to replicate popular alcoholic spirits and cocktails. The range claims to be capable of crafting 90% of the world’s best-selling cocktails and is positioned as a true-to-taste swap for alcoholic ingredients. The company sells in more than 60 countries across retail, on-trade, direct-to-consumer and travel channels, and has production in the UK, Germany, Australia and the US. Lyre’s has established an R&D division in partnership with beverage technology firm Döhler to develop a new product pipeline. The business is on course to be annualising £50 million in revenues by December of this year and has manufactured over one million bottles to date. Future plans highlighted include expanding marketing, significantly growing headcount, and co-investing with manufacturing partners to scale production capacity. Lyre’s produces a portfolio of 13 non‑alcoholic spirits formulated to replicate classic spirit flavors, and is positioned as the most awarded brand in the non‑alcoholic spirits category. Since launching in July 2019 the company has expanded into over 30 markets worldwide, selling both on‑ and off‑premise and via direct‑to‑consumer channels. Lyre’s focused on DTC during the pandemic and achieved more than 400% monthly recurring revenue growth since January 2020. The company plans continued portfolio growth, product innovation (including a Ready‑To‑Drink range), and accelerated market expansion. Management says manufacturing in multiple global locations, compliance for new markets, and expanded recruitment are priorities to evolve from a start‑up to a multinational beverage company. The brand emphasizes matching alcohol spirit flavors and styles to offer sober alternatives across demographics.