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One Bio, a food tech startup making a concentrated form of fiber, raised a $27 million Series A, CEO Matt Barnard tells Axios exclusively.

Why it matters: Innovation and new products are driving dealmaking and fundraising in specialty ingredients.

Zoom in: The funding was led by Alpha Edison and includes new investors Leaps by Bayer, Mitsui E12, Morado, ReMY, and DSM.

Existing investors iSelect, Skyview Life Sciences, Collaborative and Acre also participated.

How it works: One Bio's technology extracts naturally-derived, anti-inflammatory short-chain fibers from thousands of plants.

The company's aim is to help food and beverage companies formulate new products with increased fiber, but without compromising taste or texture, Barnard says.

The big picture: Fiber deficiency contributes to health conditions such as obesity and diabetes.

What's next: Proceeds will be invested in getting products on the shelf and bringing more fibers to market (it's already identified several thousand), he says.

By the numbers: The R&D behind the technology took 20 years and $30 million to develop, Barnard says.

Prior to the Series A, One Bio raised about $20 million, he says.

Context: "There's a big portfolio of IP. Most of it was developed by us and is owned by solely and completely by us," Barnard says. 

"The first pieces of intellectual property were developed at (University of California, Davis) and we have an exclusive global license on those pieces," he says.

The bottom line: "We're trying to remake the grocery store and the best way to do that is to work with the system as it exists," Barnard says.

Exclusive: Food tech startup One Bio raises $27M Series A

Prior to the round One Bio raised about $20 million.

Illustration of a farmer bending over rows of plants shaped like dollar bills

One Bio, a food tech startup making a concentrated <a class="gtmContentClick" data-vars-link-text="form of fiber" data-vars-click-url="https://www.axios.com/2024/12/11/usda-2025-dietary-recommendations" data-vars-content-id="668b9561-6c0b-4dc0-83bd-72c16785d41b" data-vars-headline="Exclusive: Food tech startup One Bio raises $27M Series A" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/2024/12/11/usda-2025-dietary-recommendations" target="_self">form of fiber</a>, raised a $27 million Series A, CEO Matt Barnard tells Axios exclusively.Why it matters: Innovation and new products <a class="gtmContentClick" data-vars-link-text="are driving dealmaking" data-vars-click-url="https://www.axios.com/pro/retail-deals/2024/10/21/specialty-ingredients-mergers-acquisitions-activity" data-vars-content-id="668b9561-6c0b-4dc0-83bd-72c16785d41b" data-vars-headline="Exclusive: Food tech startup One Bio raises $27M Series A" data-vars-event-category="story" data-vars-sub-category="story" data-vars-item="in_content_link" href="https://www.axios.com/pro/retail-deals/2024/10/21/specialty-ingredients-mergers-acquisitions-activity" target="_self">are driving dealmaking</a> and fundraising in specialty ingredients.

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Exclusive: Food tech startup One Bio raises $27M Series A

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