“Elo Life Systems Secures $20.5M in Series A2 Funding, Accelerating Growth”

Elo Life Systems Raises $20.5M in Series A2 Funding

Elo Life Systems, a food and ingredient company based in Durham, has successfully raised $20.5 million in Series A2 funding, bringing its total funding to $45 million. The round was led by DCVC Bio and Novo Holdings, with participation from Hanwha Next Generation Opportunity Fund, AccelR8, and Alexandria Venture Investments. The additional funds will be used by Elo to expand its ingredient pipeline and safeguard staple crops, like bananas, from the impacts of disease and climate change.