With the investment into Changing Biotech, Eight Roads ventures into synthetic biology and strengthens its portfolio in the food & agriculture technology field in China.
Changing Biotech, a pioneer and leading player in microorganism-based protein development in China, has raised RMB140m in Series A financing round, led by Bits x Bites, and followed by new investors Eight Roads, Sherpa Healthcare Partners, and Marathon Ventures Partners. Existing investors also participated.
Founded in 2020 by food & science industry veterans, Changing Biotech applies synthetic biotechnology downscaling to food, using microorganisms to produce edible proteins. The company currently has two developing alternative dairy products with the potential to resolve a major domestic dairy shortage pain point and revolutionize the dairy industry in China.
Betty Cai, Partner of Eight Roads China, said: “It takes strong strategic planning capability for synthetic biology companies to choose between major technological breakthroughs and commercialization and find the right balance to succeed. Mr. Bin LUO, founder of Changing Biotech, is a seasoned entrepreneur with nearly 30 years of experience in the food industry and possesses strong business acumen. We are excited to work with the Changing team and support the company to empower the development of China's food and agriculture sector through technology innovation.”