Nuritas, a Dublin-based biotechnology company has closed a $45 million (€39 million) Series B funding round.

The company looks to identify components hidden within everyday food which can be isolated and used as the basis for new medicines.

This latest investment, led by Chicago-based Cleveland Avenue, brings the company's total funding to date to $75 million.

Other investors include Grosvenor's Wheatsheaf Group, the European Circular Bioeconomy Fund, Singapore-based Vertex Holdings, Nutresa Ventures/ Veronorte and CJ.

Cultivian Sandbox Ventures and VisVires New Protein, who led previous rounds, also participated.

U2’s Bono and The Edge, Salesforce CEO Marc Benioff and Ali Partovi were also early investors.

"Our new investors bring a wealth of invaluable expertise, and this latest round will help to build our US headquarters, continue to expand our team, scale our platform to discover more life-changing ingredients and accelerate our route to market," said Dr Nora Khaldi, founder and CEO of Nuritas.

"It has been a landmark year, resulting in the expansion of our peptide portfolio, growing the commercial team and developing key global partnerships," she added.

Nuritas has established the world's largest peptide knowledge base.

Peptides are smaller versions of proteins with the same nutritional power, but with added highly specific benefits.

The company said many of these are highly valuable to humans but have not yet been harnessed for their full potential.

Randall Lewis, managing director of Cleveland Avenue said it is happy to part of the company's ongoing growth.

"We anticipate Nuritas will become a global ingredient powerhouse and a partner of choice for companies around the world," he said.

"Nuritas is led by a talented team and its AI-powered, peptide discovery platform is a novel and proprietary platform technology that offers unprecedented value to the future of our health and our planet," he added.