In Sweden, cell-free biomanufacturing technology company EnginZyme has raised €21 million (US$22 million). The Series B funding will be used to accelerate commercialization of the company’s platform, which leverages enzymes and the efficiency of the chemical industry. “By replacing traditional fossil-based manufacturing with its patented cell-free technology platform, the company seeks to accelerate the shift toward more sustainable manufacturing of the products that modern society relies on,” EnginZyme says in a press statement.
New investors, including Almi Invest GreenTech, Navigare Ventures and Bunge Ventures, join existing investors Sofinnova Partners, Industrifonden and SEB GreenTech VC.
“This fundraising marks a pivotal moment for EnginZyme,” says Dr. Karim Engelmark Cassimjee, CEO and co-founder of EnginZyme. “This started as an idea at The Royal Institute of Technology in Stockholm to fight climate change by enabling greener chemistry for every industry. We attracted several established investors and created a company at the intersection of chemical engineering and biology. Today, we are extremely proud to have the support of this high-quality syndicate of investors as we drive forward into our next stage of growth.”