EvodiaBio Raises €7M to Revolutionize Non-Alcoholic Beer with ‘Yops’, the Aroma of Hops – vegconomist

Danish startup EvodiaBio announces it has raised €7 million from foreign and Danish investment funds, including EIFO and The March Group.
Based in Copenhagen, EvodiaBio leverages yeast fermentation to produce natural aromas and flavors for the F&B industry. With the new capital, the company will commercialize its first product, ‘Yops’, the aroma of hops, for the production of non-alcoholic beer, and expand its portfolio.
Camilla Fenneberg, CEO of EvodiaBio, said, “We are incredibly proud to have achieved this milestone. This funding round is an important step towards our vision of revolutionizing the food industry with sustainable and innovative solutions. With support from our investors and our strong team, we are ready to take EvodiaBio to new heights and make a significant impact on the global stage.”
© EvodiaBio
Sustainable aromas
EvodiaBio was founded in 2021 by Victor Forman (CTO), Simon Dusséaux (CSO), Sotirios Kampranis (Chief R&D), and Jarne Elleholm (Chairman) to create aromatic alternatives to petrochemical-derived aromas that rely on harmful catalysts and solvents (chemical synthesis).
EvodiaBio creates its products using cutting-edge precision fermentation technology and yeast. Yops is said to improve the taste of non-alcoholic beer while providing a “superior, consistent brewing product.” It can also partially replace aromatic hops in beer production. Moreover, its production has less environmental footprint: it reduces the use of natural resources and CO2 emissions.
According to EvodiaBio, hops, the fragrant flowers that give beer its signature flavor, face a significant threat: climate change. Their production is declining, while their quality is deteriorating.
© EvodiaBio
Backing green aromas
In December 2022, EvodiaBio raised €6.4 million backed by an international consortium of investors, including Nordic Foodtech VC, the German flavor house Symrise, Paulig’s venture arm PINC, Thia Ventures VC, Newtree Impact, Ananke Ventures Limited, EIFO, and The March Group. Additionally, it has secured €2 million in early-stage funding from the Danish BioInnovation Institute, the government’s investment fund, which supports companies dedicated to the green transition.
EvodiaBio reports strong interest from the brewery and explains that its hop alternative extends beyond non-alcoholic options. EvodiaBio’s long-term goal is to enhance the flavor of multiple beverages and food products and become a global leader in sustainable aroma development for the food industry and beyond.
Johan Bitsch Nielsen, Investment Manager, Green Transition, EIFO, shares: “It is crucial that we contribute with risk-tolerant capital so that advanced research from universities can be commercialized and support the green transition, which EvodiaBio can pave the way for. We see great potential in their innovative product, which the strong team behind the company can take far, and we are pleased with the support from international investors.”

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