C16 Biosciences

C16 Biosciences, headquartered in New York, operates within the healthcare sector, specifically focusing on industrial bio solutions. The company, which has a team of 35 employees, is known for its innovative approach to producing biodesigned performance ingredients. Their proprietary platform supports the development of sustainable alternatives to traditional oils and fats. C16 Biosciences’ first major product, Palmless™, serves as an alternative to palm oil. They have also launched Torula oil, a luxury bio-based oil aimed at the beauty industry, which has been clinically proven to enhance the health of skin and hair. This product featured prominently in two award-winning product launches in 2023, both achieving rapid sell-outs. The company’s efforts have been recognized with a $3.5 million grant from the Bill & Melinda Gates Foundation and a $1 million investment from Elemental Excelerator, enhancing their capabilities in the food category. Additionally, C16 Biosciences was awarded the World Cell-base Innovation Award for ‘Best Cell-based Ingredient’ and joined Elemental Excelerator’s Cohort 12 in 2023. With the recent funding, the company plans to expand its research and development team to further its mission of creating a circular economy model that reduces reliance on arable land.