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EnginZyme, a company developing a technology platform for sustainable production of chemicals, today announced it has closed an extension to its Series A financing round, bringing the total raised to €11 million. The extension round was led by Industrifonden, Sweden’s largest deep tech venture capital firm, followed by SEB Greentech VC and existing shareholders.
“Current bio-manufacturing processes are too expensive and too difficult to scale to be economically feasible for most chemicals and products,” said Dr. Karim Engelmark Cassimjee, CEO of EnginZyme. “This funding round will allow us to demonstrate that the problem is solvable, and that our approach is a versatile and scalable solution.”