Top U.S. Investor Injects Millions into Danish Biotech for Global Growth

19/12/2025

EvodiaBio has raised EUR 6 million in a new funding round led by U.S.-based RA Capital. Funds will be used to accelerate the company’s growth journey in Europe, the United States, and Canada, with Asia as the next step in its expansion.

The Danish flavor company EvodiaBio has raised EUR 6 million in a new funding round led by the American investment firm RA Capital. Existing investors, including EIFO, continue their support, while new international investors such as Wild Radicals and Francis Family Funds have come aboard. The funding will be used to strengthen growth in existing markets and to enter the Asian market.

EvodiaBio has developed a groundbreaking technology platform that enables a viable industrial-scale production of volatile aroma molecules far more efficiently and sustainably than traditional methods, with the potential to transform the beer industry and expand into new applications across the beverage and aroma industries.

The company began as a research project and, in just a few years, has moved from the laboratory to industrial production with documented market demand. Having removed the major technological and commercial risks, EvodiaBio now stands at a turning point where global scaling is the next natural step.

– This investment puts us in a position to scale globally. I am proud of our team – within just three and a half years, we have gone from a research project to industrial production with all necessary approvals and a profitable product. That is rarely seen in the biotech industry. This investment enables us to accelerate global growth and realize our ambition of becoming a Danish unicorn in industrial biotech, says Camilla Kloss Fenneberg, CEO of EvodiaBio.

Strong position in the beer industry

Since its launch earlier this year, EvodiaBio has achieved global commercial traction with more than 70 commercial brews and over 10 projects with top-40 breweries worldwide. The company has proven the effectiveness and market relevance of its technology, which has the potential to transform beer production and reduce dependence on hops – a raw material threatened by climate change.

– RA Capital’s investment in EvodiaBio at this stage underscores the company’s strong position. It confirms that we have removed the key risks related to technology, production, and commercialization. We have proven that the technology works, that customers are interested in the product, and that the business model has been profitable from day one. Now we are ready to accelerate growth, says Jarne Elleholm, Chairman of the Board at EvodiaBio. He adds:

– What EvodiaBio has achieved in record time is highly unusual in our industry. Moving from the laboratory to a complete production platform, global partnerships, and market interest in such a short time demonstrates that Denmark has the potential to become a leading hub for biosolutions. The new capital allows us to accelerate even further and show how far industrial biotech can take Denmark.

U.S. investor sees global potential

RA Capital sees significant potential in EvodiaBio’s technology, which has solved one of the most complex challenges in the aroma and beverage industries.

– EvodiaBio has developed a technology platform that convincingly solves one of the most complex problems in the aroma and beverage industries: how to efficiently and sustainably produce natural aromas at industrial scale. The team has executed with a speed and quality rarely seen in biotech, and we see enormous global potential, says Kyle Teamey, Managing Partner at RA Capital. He adds:

Future goals and global expansion

With its latest investment and strong partnerships, EvodiaBio is well positioned to accelerate its growth. The next steps include expansion into new markets such as Asia and applying its sustainable technology across additional industries, including other beverages, wine, and the aroma industry more broadly.

– This investment places us in a strong position to accelerate our growth and expand our technology into new markets, especially in Asia. We have achieved strong commercial validation, but we are still early in our growth journey. Our goal is to become a global leader in industrial biotech, and we see a tremendous opportunity to enter multiple industries with our sustainable and efficient solutions, says Camilla Kloss Fenneberg.

The latest funding round is the company’s third in three years. In total, EvodiaBio has raised DKK 150 million.

About EvodiaBio

EvodiaBio ApS is an industrial biotech company that develops sustainable aromas through fermentation. The technology is used commercially in the beverage industry and enables the production of natural aromas with significantly lower resource consumption and CO₂ emissions than traditional methods.

Organizational overview

Behind EvodiaBio is a board of directors that includes profiles such as Flemming Besenbacher, former Chairman of Carlsberg; Andreas Fibig, former CEO of IFF; and Anne Cabotin, former SVP at Symrise.

Existing investors (participating in the round): EIFO, Ananke Ventures, Newtree Impact, PINC (Paulig), Jarne Elleholm (co-founder and Chairman of the Board), Sotirios Kampranis (co-founder), Camilla Kloss Fenneberg (CEO), and three board members: Flemming Besenbacher, Anne Cabotin, and Andreas Fibig.

New investors: RA Capital, Francis Family Funds, Wild Radicals.

About RA Capital

RA Capital Management was founded in 2004 and is an investment manager focused on evidence-based investments in public and private companies within healthcare, life sciences, and planetary health. RA Capital creates and finances innovative companies across development stages – from private seed rounds to follow-on public financing – and supports management teams in value creation from idea to commercialization and beyond. RA Capital has more than 180 employees and manages over USD 12 billion in assets.

Founded in 2004, RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies. RA Capital creates and funds innovative companies, from private seed rounds to public follow-on financings, allowing management teams to drive value creation from inception through commercialization and beyond. RA Capital has more than 180 employees and over $12 billion in assets under management.

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