Stockholm–(Business Wire) – EnginZyme, a greentech company developing bio-manufacturing processes for the sustainable manufacture of everyday products, today announced that it has raised €21 million in Series B funding. New investors including Almi Invest GreenTech, Navigare Ventures and Bunge Ventures joined existing investors Sofinnova Partners, Industrifonden and SEB GreenTech VC in the funding round.
EnginZyme’s goal is to make sustainable bio-based technologies accessible to companies across a wide range of industries. Its technology platform leverages nature’s catalysts, enzymes, to combine the power of biology with the efficiency of the chemical industry in a solution that has the best of both worlds. By replacing traditional fossil-based manufacturing with its patented cell-free technology platform, the company seeks to accelerate the transition to more sustainable manufacturing of the products that modern society depends on.
EnginZyme, recognized as a Technology Pioneer by the World Economic Forum, will use the Series B funding to execute its large-scale global commercialization plan and build new capabilities of its proprietary technology platform to improve performance and facilitate expansion in current and new markets.
“This fundraising marks a pivotal moment for EnginZyme,” Dr. said Karim Engelmark Cassimjee, CEO and Co-Founder, EnginZyme. “It started with an idea at the Royal Institute of Technology in Stockholm to fight climate change by providing greener chemistry for every industry. We attracted several sophisticated investors and created a company at the intersection of chemical engineering and biology. Today, we are extremely proud to have the support of this syndicate of quality investors as we enter our next phase of growth. “
Alex Basu, Investment Manager, Navigare Venturescommenting:
“At Navigare Ventures, we believe that nature-inspired solutions will be key to solving some of our greatest challenges. We are therefore pleased to support EnginZyme as it prepares for the next phase. With its science-based technology, solid With an industrial base and a strong syndicate of investors, EnginZyme is well-positioned to accelerate the development of its technology to benefit sustainable manufacturing.”
Helen Taflin, Investment Manager, Almi Invest GreenTechSay:
“EnginZyme offers a unique green solution with the potential to move the chemical industry towards sustainability at scale, commercially and at scale, by improving carbon footprint and climate impact. We look forward to supporting this initiative with our co-investors company.”
“We believe that the best ideas in biotech deserve long-term support,” Say Michael Krel, Partner, Sofinnova Partners and Chairman of the EnginZyme Board of Directors“This funding round proves we are not alone. Combining biochemistry expertise with process engineering, EnginZyme has the potential to take sustainable manufacturing to new heights.”
About EnginZyme
Founded in Sweden in 2014, EnginZyme wants to play a key role in fighting climate change by providing green chemistry to every industry. By replacing traditional fossil-based manufacturing with a patented cell-free technology platform, EnginZyme seeks to accelerate the transition to sustainable biomanufacturing of the products that modern society depends on.
EnginZyme has been recognized as a Technology Pioneer by the World Economic Forum, a Global Cleantech 100 Company and is backed by an international syndicate of investors: Sofinnova Partners, Industrifonden, SEB GreenTech VC, Almi Invest GreenTech, Navigare Ventures and Bunge Ventures. To learn more, visit www.engzyme.com.