Sydney-based Number 8 Bio, has raised A$11 million in a Series A funding round.
The round was led by New Zealand venture capital firm Icehouse Ventures, with support from existing investor Main Sequence and new investor One Innovators, a Japanese climate-focused VC. Japan is Australia’s second-largest market for beef exports.
Earlier, in September 2024, Main Sequence — backed by CSIRO — led a $7 million seed round for the company, along with support from Breakthrough Victoria and The March Group.
Number 8 Bio was founded in 2022 by Dr. Tom Williams and Dr. Alex Carpenter. The same year, it participated in the UNSW SynBio 10X Accelerator and won the Positive Impact Award.
Number 8 Bio uses synthetic biology to develop an affordable way to reduce methane released by livestock through burping, known as enteric fermentation. This process causes about 70% of agricultural greenhouse gas emissions in New South Wales, and roughly 10% of Australia’s total emissions.
The company has created a low-cost organic small molecule that can be produced locally in Australia.
With the new Series A funding, Number 8 Bio plans to run large-scale animal trials and secure regulatory approvals to expand into New Zealand, Europe, and the United States.
The company is also working to prepare its feed additive and a slow-release capsule for cattle — which can last up to six months — for commercial launch in 2026.
Number 8 Bio also plans to launch a carbon-insetting program to help farmers and supply chains earn verified credits for reducing emissions.
Many startups have tried to solve the methane problem using seaweed-based supplements. One of them, Rumin8, raised $17 million in 2023 from investors including Bill Gates and Twiggy Forrest. However, seaweed-based solutions are still expensive to produce, making it hard for farmers to get a good return on investment.
CSIRO has also supported research in this area through a joint venture called FutureFeed, created with Meat & Livestock Australia and James Cook University.
FutureFeed raised $13 million in 2020, and a $90 million plant is now being built in South Australia to produce methane-reducing cattle feed. Meanwhile, Sea Forest raised $34 million in 2021 to grow seaweed for this purpose in Tasmania.
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