KAILUA-KONA, Hawaii - June 23, 2022 - Symbrosia, a Hawai’i-based startup with a seaweed feed additive that reduces livestock methane emissions by over 80%, has closed out its Series A funding round with $7 million. After two years of research on seaweed breeding and cultivation technology, Symbrosia has developed strains that are significantly more productive, potent and resilient than wild populations. The company will use the capital to scale production of these breakthrough seaweed strains by orders of magnitude and bring their livestock feed additive, SeaGrazeTM, to market with the world’s most innovative brands and producers.
The funding round is led by Danone Manifesto Ventures, the corporate venture arm of Danone, a leading global food and beverage company. For Danone, this investment aligns with its goal of becoming carbon neutral across its full value chain by 2050. Additional investors in the funding round include previous seed investors, Pacific6 and HATCH, new investor, Presidio Ventures, and new Hawaiian investors, Kamehameha Schools and Mana Up, along with individual local investors, farmers, and seaweed enthusiasts.
Founder and CEO Alexia Akbay, a Forbes 30 Under 30 recipient for Social Impact in 2022, said, “During the past two years of research, we pushed the boundaries in seaweed breeding to develop high-performing seaweed strains. This Series A funding round marks a critical inflection point where we shift our focus to bringing this innovation to market at scale, as quickly as possible, with strategic partners in Hawaii, California, and the Pacific Northwest. The support from Danone Manifesto Ventures and our other investors, existing and new, will enable us to increase seaweed production by a factor of 1,000, round out our team expertise with strategic hires, and put SeaGrazeTM in the hands of visionary companies and livestock producers to create the world’s most sustainable livestock supply chains. Now is our moment to take action on methane.”
Jean Prevot, Vice President, Operations and Sustainability at Danone Manifesto Ventures added, “We are thrilled to be partnering with Alexia and the Symbrosia team. We are impressed by the drive and passion they have to meaningfully address climate change through the reduction of livestock methane emissions. Given Danone’s leadership in the global dairy industry, this investment also complements our portfolio of strong solutions to help us and our partners achieve carbon neutrality across our value chain by 2050.”