Stockholm-based EnginZyme, a biotechnology company that creates biomanufacturing processes for the sustainable production of common goods, announced that it has raised €21M in a Series B round of funding.
The investment came from new investors Almi Invest GreenTech, Navigare Ventures, and Bunge Ventures. Existing investors Sofinnova Partners, Industrifonden, and SEB GreenTech VC also participated in this round.
The company creates biomimetic processes, but instead of living cells, it uses a proprietary method that helps them use enzymes similar to how the conventional chemical industry uses catalysts, but under much gentler, less energy-intensive conditions.
Founded in 2014 by Karim Engelmark Cassimjee and Samuel Hargestam, EnginZyme wants to play a key role in tackling climate change by enabling green chemistry for every industry.
The company aims to accelerate the transition to sustainable bio-manufacturing of goods that are essential to modern society by displacing traditional fossil-based manufacturing with the proprietary cell-free technology platform.
EnginZyme says it will use the funds to carry out its objectives for extensive worldwide commercialization as well as to develop new features of its technology platform to improve performance and enable scalability in both existing and new markets.
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