Climate Venture Capital Fund Invests in Mara Bio​

Mara Bio Secures Strategic Investment to Scale Climate-Positive Protein Production

• Investment led by Climate Venture Capital Fund

• Backed by Stephen Tindall’s K1W1

• Biotech innovation repurposes by-product to create protein ingredient

• Could support dairy sector to reduce emissions

30 July 2025, Hastings, New Zealand. Biotechnology company Mara Bio today announced a $1m strategic funding round led by Climate Venture Capital Fund, with support from the Stephen Tindall-founded K1W1 and existing shareholders. 

The investment will accelerate its pioneering fermentation platform that turns food industry by-products into high-value, clean-label protein ingredients.

Mara Bio’s mission is to provide a climate-positive, allergen-free alternative to traditional proteins, unlocking new sustainable pathways for food, nutraceutical, and pharmaceutical manufacturers.

“At Mara Bio, we’re harnessing cutting-edge technology to unlock more nutrition from existing food systems while reducing the industry’s environmental impact, or ‘foodprint,’” said Mark Balchin, CEO and co-founder of Mara Bio. 

“This investment enables us to further develop our technology platform, begin pilot-scale trials, and produce enough product for global food companies to evaluate and formulate into healthier, more sustainable consumer products to feed a growing global population.”

Mara Bio is a welcome addition to the food sector because it finds new value in byproducts. 

Mara Bio’s proprietary fermentation process upcycles nutrient-rich by-products, like dairy acid whey and spent brewers’ grain, into Flexitein®, a complete protein and dietary fibre ingredient that is non-GMO, allergen-free, and taste-neutral. 

Compared to conventional protein sources, Flexitein uses significantly less land, water, and energy, and creates far fewer emissions.

Dr Jez Weston, Partner at Climate VC Fund, says Mara Bio is an attractive investment proposition because it aligns with the needs of the existing food industry. 

“We know that major food producers such as dairy companies have committed to reducing their emissions footprints substantially,” says Weston. “Mara Bio is going to help them turn byproducts into a valuable protein source. Offering less waste, lower emissions and a new, protein-rich revenue stream, Mara Bio looks like a win/win/win for food companies.” 

The company aims to become net climate-positive by 2030 by avoiding emissions through circular processing and reducing the need for deforestation-intensive and conventional protein inputs.

“Mara Bio’s platform transforms what was once considered waste into a valuable, climate-positive ingredient. We’re excited to support the team as they scale up and reshape the future of sustainable nutrition,” says Weston.

Building commercial momentum

Mara Bio is currently engaging with early commercial partners in the functional food and nutraceutical sectors. The investment will support:

• Scaling up pilot production and quality testing of Flexitein®

• Securing regulatory approvals and preparing for commercial launch

• Building a cross-functional team across R&D, operations, and business development

• Expanding IP protection and customer development

Founded in 2023, Mara Bio operates from the FoodEast Haumako innovation hub in Hastings. The company was named a winner at evokeAG’s agrifood innovation awards and was selected for Creative HQ’s Climate Response Accelerator in 2024.

This year Mara Bio was awarded a place in the Mass Challenge accelerator in Switzerland, one of just 8% of 1500 applicants. 

Leading NZ’s climate innovation push

Mara Bio becomes the ninth company backed by Climate Venture Capital Fund, New Zealand’s first dedicated series of climate-tech venture capital funds. CVCF was named Best Net Zero and Climate Action Investor at the Mindful Money Awards in both 2023 and 2024, and recently published its third annual Impact Report. Climate VC Fund 2 is currently open for investment to wholesale investors.

“Mara Bio is a standout example of climate-tech innovation rooted in Aotearoa,” said Weston. “Their circular model delivers both commercial upside and measurable emissions reductions. We’re proud to partner with them.”

Mark Balchin says the investment adds credibility to the Mara Bio story. 

“Having the backing of two of New Zealand’s leading investment funds is a major milestone for Mara Bio. Their support brings not only the capital to accelerate our growth both locally and internationally, but also strong validation of our mission and the potential of our technology. With growing interest from global ingredient companies, this investment will help pave the way for new partnerships and commercial opportunities on the world stage.”

Ends

 

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Media Contacts

Mara Bio

Mark Balchin
CEO
+64 0274144171
mark@mara-bio.co.nz

Climate Venture Capital Fund
Dr Jez Weston
Partner
+64 21 444 897
jez@2040ventures.com

 

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About Mara Bio

Mara Bio is developing Flexitein®, a non-GMO, climate-positive protein and dietary fibre ingredient made using fungal fermentation. By transforming food industry by-products into high-value nutrition, Mara Bio helps food, nutraceutical, and pharmaceutical manufacturers meet rising demand for clean-label, sustainable ingredients. Based in Hastings, Mara Bio is committed to delivering better nutrition for people and the planet.

Learn more at: mara-bio.co.nz

 

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About Climate Venture Capital Fund

The Climate Venture Capital Fund (CVCF) is New Zealand’s first venture capital fund focused entirely on high-growth companies that reduce greenhouse gas emissions. With a mission to generate strong financial returns and measurable climate impact, Climate Fund 1 has backed nine companies across energy, food, and materials, each helping to build a more sustainable, low-carbon future. Climate Fund 2 is currently open for investment.

Learn more at: climatevcfund.com