Cauldron has locked in $9.5 million in Series A funding
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There's a company named Cauldron. They specialize in creating products using a precise fermentation process. Recently, they received a significant amount of money—specifically, $9.5 million—as part of their Series A funding.
The people or organizations who provided the money for Cauldron's funding are called backers. In this case, the main backers include Horizons Ventures, SOSV, and In-Q-Tel (IQT). Additionally, there's another investor named Main Sequence who had previously invested in Cauldron.
About a year ago, Cauldron received a substantial amount of money—$10.5 million—as part of a seed investment. This investment helped them start and grow their business.
In total, Cauldron has collected $20 million from various investments. However, the exact value or worth of the entire company hasn't been disclosed yet.
The person in charge of Cauldron, Michele Stansfield, explained that their precise fermentation technique has been successfully tested on a large scale. This method is used in various industries. The best part? It allows their customers to save a significant amount of money- between 30% and 50% less-compared to traditional methods.
Stansfield added that Cauldron's technology has applications in several fields, such as creating biofuels, farming, cosmetics, and chemicals. The company sees great potential for growth, especially with the support of their investors.