Boulder-based biotech startup raises $1.75 million

BOULDER — DMC Biotechnologies, a biotech startup, has raised $1.75 million in equity financing from Belgium-based Capricorn Venture Partners.

Boulder-based DMC uses its technology to ferment microbes that can be used in a variety of products for human and animal nutrition. The company’s first product is in the amino acid family and can be used in pet food or as a nutritional supplement for humans. The company’s funds will launch a pilot for that product, CEO and co-founder Matt Lipscomb told BizWest. It will also go to hiring more people and purchasing more equipment.

DMC had previously raised $1.2 million in grant funding from the National Science Foundation, the U.S. Department of Energy and the U.S. Department of Agriculture.

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