In Singapore, enzyme engineering firm Allozymes has secured $15 million in Series A funding. The company plans to use the funds to accelerate its expansion into Europe, establish strategic partnerships across the food, chemical, pharmaceutical, and life science industries, and build in-house capabilities for strain engineering, bioprocessing, and downstream processing. This will enable Allozymes to provide end-to-end development of new enzymes and strains. Additionally, the funding will support the development of the industry’s most comprehensive enzyme data library for future enzyme discovery efforts.
New investors include NUS Technology Holdings, the investment arm of the National University of Singapore, and Thia Ventures. Returning investors are SOSV and Entrepreneur First.
Allozymes’ core technology features a proprietary microfluidic platform with the industry’s fastest enzyme screening capability, capable of analyzing over 20 million variants per day. This results in a 200-fold higher success rate in developing custom enzymes with specific properties for various industrial applications.
The company also has advanced enzyme sorting and detection capabilities, allowing it to identify promising enzyme candidates and precisely match them to specific industrial needs, effectively addressing a critical bottleneck in traditional enzyme discovery methods.