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Algarithm

Algarithm

Algarithm is a plant-based omega-3 ingredient company located in Saskatoon, Canada and was founded on June 22, 2017, by Udaya Wanasundara and Ben Kelly. The company derives omega-3 fatty acids from from algal oil for use in the food, beverage, and dietary supplement industries.

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Contents

algarithm.ca
Is a
Organization
Organization
Company
Company

Company attributes

Industry
Plant-based products
Plant-based products
Algae
Algae
Ingredient
Ingredient
‌
Supplement
Plant-based meat
Plant-based meat
Alternative proteins
Alternative proteins
Dietary supplement
Dietary supplement
...
Location
Saskatoon
Saskatoon
B2X
B2C
B2C
B2B
B2B
0
Founder
Ben Kelly
Ben Kelly
Udaya Wanasundara
Udaya Wanasundara
Number of Employees (Ranges)
11 – 500
Phone Number
+13069782862
+18885228588
Investors
Tendercapital
Tendercapital
Founded Date
2017
0
Latest Funding Round Date
December 4, 2017
Latest Funding Type
‌
Venture round

Other attributes

Company Operating Status
Active

Alagarithm is a company, spun-out of POS Bio-Sciences, manufacturing omega 3 fatty acids, in the form of powders and emulsions, using algae for use in food, beverage, and supplement products. The company was founded on June 22, 2017, in Saskatoon, Canada, by Ben Kelly and Udaya Wanasundra.

Algarithm uses an algae (Schizochytrium sp.), that was harvested off the coast of Nova Scotia, Canada, in the Bay of Fundy, that produces a vegan, non-GMO, contaminant free, and allergy free source of docosahexaenoic acid (DHA) rich algal oil. DHA from the DHA rich algal oil can be extracted and refined using a chemical free process through enzymatic extraction. Omega-3 DHA produced by Algarithm are free of common contaminants of omega-3 DHA, such as heavy metals and pesticides, extracted from cold water fish such as herring, tuna, halibut, salmon, and cod, due to their algae growing in a controlled environment with no environmental pollutants.

The manufacturing process of algal DHA oil by Algarithm is done is a two-step process. The fermentation and extraction of the algal oils is completed in Europe. After the algal oil is extracted, it is then shipped to POS Bio-Sciences in Canada for oil processing. Once the algal derived DHA oil is processed, Algarithm adds the DHA oil into their own products, or sells the oil to other companies looking for an alternative source of DHA oil.

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

Algarithm Ingredients Inc. launches with new algae-derived omega-3 ingredients

nutraingredients-usa.com

https://www.nutraingredients-usa.com/Article/2017/06/26/Algarithm-Ingredients-Inc.-launches-with-new-algae-derived-omega-3-ingredients

News article

Algarithm Ingredients Inc. Spins Out of Bio-Based Product Pioneer, POS Bio-Sciences, to Meet Market Demand for Plant-Based Omega-3 Ingredients in Functional Food, Nutraceutical, and Beverage Industry

prnewswire.com

https://www.prnewswire.com/news-releases/algarithm-ingredients-inc-spins-out-of-bio-based-product-pioneer-pos-bio-sciences-to-meet-market-demand-for-plant-based-omega-3-ingredients-in-functional-food-nutraceutical-and-beverage-industry-300479066.html

News article

Introducing Algarithm - POS Bio-Sciences

POS Bio-Sciences

http://www.pos.ca/introducing-algarithm-2/

Web article

References

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