CarboCode
CarboCode is a Portugal-based biotech that produces human-identical sphingolipids (gangliosides, glycosphingolipids, ceramides) at commercial scale via an integrated biocatalysis and fermentation platform, supplying these ingredients on a B2B basis to global infant formula manufacturers including Danone, Nestlé, Abbott, and Mead Johnson.
- Company typePrivate
- Founded2017
- HeadquartersCantanhede, Portugal
- Headcount51–100
- GTM typeB2B
- OfferingHardware or Manufacturing
What CarboCode does
CarboCode S.A. is a privately held biotechnology company founded in 2017 and headquartered in Cantanhede, Portugal, with a research center in Konstanz, Germany. The company produces human-identical sphingolipids — including gangliosides (notably GM3 and GD3), glycosphingolipids, and ceramides — by integrating biocatalysis, fermentation, protein and metabolic engineering, and chemistry into a single platform that, according to the company, can be industrialized at food-industry cost levels. CarboCode's core scientific team and co-founders developed their expertise at Glycom A/S, where they participated in commercializing the first human milk oligosaccharides.
The company's commercial focus is B2B ingredient supply rather than consumer products. Its primary commercial application is supplying human milk gangliosides and glycosphingolipids to infant formula manufacturers, with Danone, Nestlé, Abbott, and Mead Johnson cited as customers. Secondary applications target ceramides for skin care and dermatology, and gangliosides for adult cognitive and gastrointestinal health, though these remain less commercially advanced. Distribution is entirely export-oriented via direct enterprise sales to global formula brands and is supported by scientific conference engagement, including presentations at the ESPGHAN annual meeting on the infant gut microbiome.
CarboCode is currently in a pre-industrial-scale phase. The company has 60+ employees of roughly 10 nationalities, is preparing HACCP and ISO 22000 certification at its Cantanhede Technology Transfer Center, and is building a new industrial factory at the BioCant Park complex designed for up to 100 tons of gangliosides per year. It raised a €15 million Series C led by Iberis Capital in late 2024 and is targeting regulatory approvals in the EU and US by 2027 and China by 2028, with a stated objective of exceeding €100 million in annual turnover by 2029. CEO Jorge Santos was appointed in August 2024 to lead the industrialization phase.
CarboCode firmographics
Firmographics- Name
- CarboCode
- Legal name
- CarboCode S.A.
- Website
- https://carbocode.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- CarboCode is a Portugal-based biotech that produces human-identical sphingolipids (gangliosides, glycosphingolipids, ceramides) at commercial scale via an integrated biocatalysis and fermentation platform, supplying these ingredients on a B2B basis to global infant formula manufacturers including Danone, Nestlé, Abbott, and Mead Johnson.
- Ownership category
- akta.pro rank
CarboCode industry classification
Industry- Product category
- Specialty Bioactive Lipid Ingredients
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical and Medicine Manufacturing (3254)
- SIC
- Medicinal Chemicals & Botanical Products (2833)
- akta.pro primary industry
- Lipid-Based Emulsions & Encapsulated Oils (Spray-Dried Oils, Microencapsulation) (AFAJALAM)
- akta.pro secondary industries
- Delivery Systems & Encapsulation (Microencapsulation, Liposomes, Emulsions, Beadlets, Spray-Dried) (AFAJAKAL), Fats, Oils & Lipid Ingredients (Specialty Oils, MCTs, Structured Lipids) (CRADAOAL)
Keywords
Where CarboCode is headquartered
LocationHeadquarters
- HQ city
- Cantanhede
- HQ country
- Portugal
- HQ region
- Europe
Offices2 records
Markets served
CarboCode business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Personnel, Technology or R&D, Infrastructure, Supply Chain, Operations
Revenue model
- B2B Ingredient Sales: CarboCode operates as a B2B ingredient supplier, selling human-identical sphingolipids and gangliosides to major infant formula manufacturers. The company projects annual turnover exceeding €100M by 2029, with all production dedicated to exports. Revenue is generated through ingredient sales contracts with global formula brands.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels2 records
CarboCode product offering
Product offeringCore offering
CarboCode develops and manufactures human-identical sphingolipids—gangliosides (including GM3 and GD3), glycosphingolipids, and ceramides—at industrial scale using an integrated proprietary platform combining biocatalysis, fermentation, protein and metabolic engineering, and chemistry. The company sells these bioactive lipid ingredients on a B2B basis to global infant formula manufacturers (Danone, Nestlé, Abbott, Mead Johnson) and to skincare and adult nutrition customers.
Product overview
CarboCode is a biotechnology company that produces human-identical sphingolipids (gangliosides, glycosphingolipids, and ceramides) at commercial scale. The company's product portfolio centers on three core bioactive lipid categories: Human Milk Gangliosides (GM3 and GD3) for infant nutrition, Glycosphingolipids serving multiple applications including infant nutrition, skin care, and adult nutrition/cognitive health, and Ceramides specifically for skin care. CarboCode operates as a B2B supplier, providing these ingredients to global formula brands and cosmetics manufacturers rather than selling directly to consumers.
Differentiator
Problem solved
Functional benefit
Products and services
- Human Milk Gangliosides (GM3 and GD3) Human-identical GM3 and GD3 gangliosides produced at commercial scale, used as bioactive lipid ingredients that bring infant formula closer to mother's milk by providing components essential to the development of babies. Intended for B2B sale to global infant formula manufacturers.
- Glycosphingolipids Human-identical glycosphingolipids produced at commercial scale for application across infant nutrition, skin care, and adult nutrition/cognitive health markets. Sold on a B2B basis to global formula brands and cosmetics manufacturers.
- Ceramides Human-identical ceramides for skin care applications, positioned as essential to a healthy skin barrier and capable of targeting major skin disorders. Sold as B2B ingredients to skincare, cosmetics, and dermatology manufacturers.
Quantifiable outcome
- Projected annual turnover exceeding €100M by 2029
- +2 more outcomes
Companies that use CarboCode
Customer profileNamed customers4 records
Segments3 records
Ideal customer profiles3 records
CarboCode technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
CarboCode partnerships and signals
Strategic signalScale indicators5 records
Recent moves7 records
Expansion highlights6 records
CarboCode competitors and assessment
Company assessmentBroad incumbents
- BASF Nutrition & Health: Division of BASF supplying vitamins, carotenoids, omega-3 lipids and other nutritional ingredients to global food customers. Broad incumbent in nutritional lipid ingredients with deep FMCG relationships relevant to CarboCode's go-to-market.
- Novonesis (formerly Chr. Hansen): Global bioscience ingredient supplier with growing HMOs and microbiome offerings for infant formula and nutrition. Much larger scale and broader portfolio, but competes in the same B2B bioactive-ingredient category as CarboCode.
- Kerry Group: Global taste and nutrition ingredients company with a dedicated infant nutrition portfolio. Comparable B2B customer set and ingredient-supply business model, though broader and not sphingolipid-focused.
- Evonik: Specialty chemicals company with a nutrition & care division producing lipid-based and biotech ingredients for food and pharma. Relevant peer for lipid chemistry capabilities and regulated ingredient supply to global FMCG customers.
- dsm-firmenich: Global nutrition, health and ingredients major with HMO and lipid-based ingredients marketed to the same tier-1 infant formula customers as CarboCode. Represents both a partner/distribution channel and the most likely in-house competitor.
- IFF Health & Biosciences (DuPont N&B legacy): Large nutrition and biosciences ingredient platform resulting from the DuPont Nutrition & Biosciences merger with IFF; supplies HMOs and other infant formula ingredients globally. Overlaps with CarboCode on customer set and category.
- Cargill Health & Nutrition: Major agricultural and food ingredient supplier with a growing health and nutrition portfolio including specialty lipids and fermentation-derived ingredients. Comparable B2B ingredient supply model serving global food and nutrition brands.
Emerging players
- Lesaffre: Family-owned global yeast and fermentation specialist expanding into human milk oligosaccharides and other precision fermentation ingredients. Comparable fermentation platform and ambition to enter B2B bioactive ingredient markets.
Direct peers
- Inbiose: Belgian biotech specializing in human milk oligosaccharides and specialty carbohydrates via biocatalysis and fermentation. Closely comparable production platform and target end-markets in infant nutrition, with overlapping glycochemistry expertise.
- Glycom A/S (now part of dsm-firmenich): Pioneer in industrial production of human milk oligosaccharides (HMOs) for infant formula; CarboCode's founders helped industrialize HMOs at Glycom before founding CarboCode to apply analogous glycobiotech to sphingolipids. Most directly comparable technology and customer base.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
CarboCode social profiles
Digital presenceCarboCode compliance and trust
Trust signalCompliance2 records
CarboCode financial estimates
Financial estimateRevenue estimate
Valuation estimate
CarboCode leadership team
Management profileNumber of profiles
Profiles3 records
CarboCode funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CarboCode M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CarboCode
What does CarboCode do?
CarboCode develops and manufactures human-identical sphingolipids—gangliosides (including GM3 and GD3), glycosphingolipids, and ceramides—at industrial scale using an integrated proprietary platform combining biocatalysis, fermentation, protein and metabolic engineering, and chemistry. The company sells these bioactive lipid ingredients on a B2B basis to global infant formula manufacturers (Danone, Nestlé, Abbott, Mead Johnson) and to skincare and adult nutrition customers.
Is CarboCode a public or private company?
CarboCode is a private company. It is classified as venture growth investor backed and is currently operating.
When was CarboCode founded?
CarboCode was founded in 2017. It employs 51 to 100 people.
Where is CarboCode based?
CarboCode is headquartered in Cantanhede, Portugal, in the Europe region.
How does CarboCode make money?
One revenue line is on record: B2B Ingredient Sales.
Who are CarboCode's main competitors?
Broad incumbents on record are BASF Nutrition & Health, Novonesis (formerly Chr. Hansen), Kerry Group, Evonik, dsm-firmenich, IFF Health & Biosciences (DuPont N&B legacy) and Cargill Health & Nutrition. Lesaffre is listed as an emerging player. Direct peers are Inbiose and Glycom A/S (now part of dsm-firmenich).
Does CarboCode have an API?
No public API is recorded for CarboCode.
What industry is CarboCode in?
CarboCode's product category is Specialty Bioactive Lipid Ingredients. Its primary akta.pro industry code is AFAJALAM, Lipid-Based Emulsions & Encapsulated Oils (Spray-Dried Oils, Microencapsulation), with a secondary code of AFAJAKAL, Delivery Systems & Encapsulation (Microencapsulation, Liposomes, Emulsions, Beadlets, Spray-Dried). Its NAICS code is 325414 and its SIC code is 2833.