LactaLogics, a Port St. Lucie, FL-based company which specializes in human milk-based nutrition, raised $92M in funding.
Funding sources included:
- USDA Food Safety Loan: Supported by Magnolia Bank.
- US Department of Energy CPACE Loan: Underwritten by Pace Equities with support from the State of Florida, St. Lucie County, and the City of Port St. Lucie.
- private investors.
The company intends to use the funds to implement its human milk processing technology at its 71,000-square-foot facility located in Port St. Lucie, Florida.
Led by CEO Glenn Snow, LactaLogics combines technology and donor care to bring human milk to babies. Through large-scale manufacturing, leveraging their proprietary Gentle-UHT™ processing technology, it is expanding access to human milk, ensuring a supply of critical nutrition.
Commenting on the news, Glenn Snow said: “This new facility stands as a testament to the individuals who have helped this mission and will empower generous mothers with surplus breast milk to safely support infants in need. For the first time, at-risk infants will have access to human milk, from premature birth until mom can successfully meet her breastfeeding goals.”
FinSMEs
12/03/2024