Charlottesville's Bonumose raises $34M+ in new round of funding

Bonumose Inc., a Charlottesville startup specializing in manufacturing table sugar alternatives, has raised $34.68 million in equity funding, according to an October filing with the Securities and Exchange Commission. The round so far includes 12 investors, and the company is looking to raise as much as $51.63 million in the round, according to the filing.

Bonumose did not return a request for comment. Sometimes companies do not comment on active funding rounds for fear of running afoul of SEC rules.

The funding follows $2 million the company raised earlier this year as part of a minority investment agreement with German flavor and fragrances producer Symrise AG. That funding was to go toward increasing sales, production volume and personnel, the company told Richmond Inno in September.

In 2022, Bonumose built a new lab and manufacturing plant in Charlottesville. It had around 30 employees as of mid-September.

The company has the rights to a process to produce tagatose, a natural sweetener, from cornstarch. The company’s patented production method seeks to drive down the cost of manufacturing tagatose as well as other rare sugars such as allulose.