Evolve BioSystems is a spin-out from the Foods For Health Institute (FFHI) at the University of California, Davis. It is a developer of microbiome-based products designed to restore and maintain gut microbiome. The company's platform focuses on human gut dysbiosis as well as in various animal species.
Evivo is a probiotic powder that to restores the infant gut microbiome. Evivo is a consumer-directed home use product, and a hospital-based neonatal ICU product.
Evolve completed a $1 million seed funding round in mid-2014, a $9 million Series A round in August 2015 and most recently a $20 million Series B capital raise in 2017. On June 12, 2018 Evolve announced a series C funding of $40m.
The company was established by founding scientists including Bruce German, David Mills, Carlito Lebrilla, Daniela Barile and Samara Freeman. Their research and translational clinical trials have been enabled by more than $15 million in federal and private grants since 2004.
$40m series C announced
Funding was led by Bill & Melinda Gates Foundation and Li Ka Shing Foundation
Evolve Biosystems raises a $40,000,000 series C round from Bill & Melinda Gates Foundation and Horizons Ventures.
Evolve Biosystems raises a $20,000,000 series B round from Bow Capital, Spruce Capital Partners, Tate & Lyle Ventures, Acre Venture Partners and Horizons Ventures.
$9m series A announced