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December 20, 2024

New Haven biotech firm secures $42M in Series C funding round

Contributed Dr. Nora Khaldi is the founder and CEO of bioscience company Nuritas.
By David Krechevsky

Nuritas, a biotech firm with its U.S. headquarters in New Haven, announced Friday it has closed an oversubscribed $42 million Series C funding round.

The round was led by London-based M&G Investments. McWin Capital Partners, a private equity and venture capital firm focused on high-growth food companies, also joined as a key investor. Current investors Grosvenor and ECBF also participated.

Founded in 2014 in Ireland, Nuritas has developed an AI platform that is used to discover and develop a range of holistic products known as bioactive peptides that can be used in food, supplements, cosmetics and other products. The bioactive peptides offer a diverse range of health benefits, including antimicrobial properties, hormone regulation and enhancing immune functions, it said.

Nuritas, which is led by founder and CEO Dr. Nora Khaldi, has three commercialized products — PeptiStrong, PeptiYouth and PeptiPump — and aims to release new products every year, with two planned in 2025.

The company established its U.S. headquarters in New Haven in 2022, following a $45 million Series B capital raise, because it was attracted to the city’s growing bioscience hub. 

M&G Investments and McWin Capital Partners said they intend to help Nuritas scale its product sales, expand its product portfolio and grow its team to boost its commercial presence and establish itself as one of the leading companies in the clean nutrition and functional ingredients space.

As part of this latest funding round, McWin Capital Partners’ co-founder, Henry McGovern, will join Nuritas’ board of directors.
 

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