The round was led by Intrinsic Capital Partners, with participation from Flybridge Capital Partners, Portfolia Active Aging & Longevity Fund, Bonaventure Equity, L37 Ventures, Golden Seeds, Sacramento Angels, Brown Angel Group, and Axial Venture. Nalu Bio will use the funds to accelerate growth and scale production of cannabinoids for consumer products and therapeutics. The funding follows on the heels of Nalu Bio's breakthrough in the cost-effective synthesis of the minor cannabinoid THCV (non-psychoactive, not to be confused with THC).

Nalu Bio is a biotech company creating a new category of chemistry-based cannabinoids for the consumer and pharmaceutical markets. Nalu Bio has developed a proprietary, flexible chemistry platform that is setting a new industry standard for purity, quality, and sustainability. Nalu Bio's proprietary approach creates identical batches of any known cannabinoid, setting the standards for consistency and quality, because it removes the risk of contamination from pesticides, heavy metals, and THC inherent in hemp extraction. Our unique, scalable platform has the ability to keep pace with anticipated market expansion, and will reliably deliver high quality and widely-accessible cannabinoids to global consumer and pharmaceutical markets.