The company’s Bioprocess Foresight platform facilitates biomanufacturing development by simulating bioprocesses to predict quantified output, costs and sustainability impact. The program also improves as it learns from empirical data. According to McKinsey, it typically takes 3-10 years for biomanufacturing firms to get from lab to market.
“From alternative proteins to biochemicals and biomaterials, bioproduction has the potential to transform our food system and supply chains for a more sustainable future,” Zoe Law, CEO and Co-Founder at New Wave Biotech, said in a press statement. “We are on a mission to accelerate these crucial technologies from lab to market. This money will be integral for us to achieve this by investing in our people, building our technology and growing our customer base.”
The funding includes a mix of equity and grant funding. Participants include EIT Food and Innovate UK.