France’s Polaris €5M for plant-based, alt-fish oils

France’s Polaris €5M for plant-based, alt-fish oils

Mar 30, 2022 2 min read
  • The biotech Polaris reveals €5M round led by Seventure Partners to expand the market reach of its Omega 3 produced with microalgae - vegan, sustainable, ‘genuine alternative’ to fish oils
  • Polaris started with fish-derived Omega 3 products 25 years ago and has shifted toward plant-based oils, in production since 2017
  • Seventure Partners, specialist investor in life science opportunities, invested via Health for Life Capital II fund, focused on the nutrition space  

The biotech Polaris has announced a €5 million round led by Seventure Partners to extend its global market reach, launch new operations and expand its existing production facility in France. Since 2017, Polaris has specialised in the production of sustainable, plant-based oils with Omega 3s from microalgae for use in nutritional applications, marketed under the brand Omegavie after a lateral move into the space away from traditional fish oils.

Leading the round, Europe’s Seventure Partners is a specialist investor in life science and microbiome opportunities, participating via a fund focused specifically on the nutrition space. Seventure’s Health for Life Capital claims to be the first venture fund for innovations ‘beyond the pill,’ microbiome and nutrition startups mainly in Europe, as well as Asia, Israel and North America. The first Health for Life Capital fund was launched in 2014, raised €160 million and went on to invest in 20 companies followed by the second vintage, Health Life Capital II in 2019 with a target fund size of over €200 million.

Logo_Polaris.jpg
Image credit: Polaris

Polaris has specialised in Omega 3s for 25 years, starting with fish-derived products and has shifted toward microalgae since 2017. The market for nutritional fatty acids is expected to grow to $945 billion by 2026, according to Polaris, alongside demand for healthier, sustainable foods and food production.  

Polaris claims its Omega 3 products are not only sustainable but also a genuine alternative to fish oils, mitigating the associated environmental costs. Vegan friendly for human consumption, the Omega 3 fish oil alternative developed by Polaris can also be used in nutritional applications to boost cardiovascular, brain and immune health.

Dominique Taret, CEO of Polaris:

"Omega 3s are vital to good health, aging and immunity, as has been confirmed by more than 40,000 scientific publications. At Polaris, we are totally committed to reducing the environmental impact of our products and the plant-based oils we develop are not only a response to the problem of natural resource depletion but are also perfectly adapted to the needs of consumers worldwide."

Isabelle de Cremoux, Chairman of the Management Board of Seventure Partners and member of the Board of Directors of Polaris:

"Polaris has evolved and has added to its classic range of Omega 3 fish oils a differentiating range of premium algae-based nutritional ingredients, which are driving its current success and strong revenue growth. We are delighted that our Health for Life Capital II fund is supporting this major new stage in the company's development, and has already helped it reach the €20 million revenue mark."

Source

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