Nalu Bio, a manufacturer of chemistry-based, ultra-pure cannabinoids, announced today a $12 million Series A funding round. Intrinsic Capital Partners led the round, with Flybridge Capital Partners, Portfolia Active Aging & Longevity Fund, Bonaventure Equity, L37 Ventures, Golden Seeds, Sacramento Angels, Brown Angel Group, and Axial Venture also participating.
The funds will be used by Nalu Bio to accelerate growth and scale production of cannabinoids for consumer goods and therapeutics. The funding follows Nalu Bio’s breakthrough in the low-cost synthesis of the minor cannabinoid THCV (non-psychoactive, not to be confused with THC).
Nalu Bio’s CEO Caitlyn Krebs stated that Intrinsic’s investment will allow them to expand their business worldwide and bring high-quality, cost-effective, non-hemp derived cannabinoids to manufacturers who want THC-free ingredients for their products.
Since its inception in 2019, Nalu Bio has pioneered a method of synthesizing cannabinoids that employs organic, non-hemp inputs that are converted into the desired cannabinoid ingredient without the stigma of the plant. The company’s adaptable platform creates molecularly identical versions of naturally occurring cannabinoids for use in consumer products and therapeutics that are environmentally friendly and free of contaminants found in hemp-extracted cannabinoids.
While continuing to expand its scientific and commercial teams to meet global market demand, Nalu Bio is using its patent-pending platform to launch a full suite of cannabinoid ingredients (e.g., CBD, THCV, CBN, CBC, CBG).