Posted on 7598
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.”
SEB Greentech makes its first investment in green chemical production
In the autumn, SEB formed a new unit within the bank that will invest venture capital in green technology to contribute to a sustainable transition. SEB Greentech VC is now making its first investment by participating in a financing round by the Swedish company EnginZyme, which has developed a technology for sustainable, biological chemical production.
“The company is in the final stages of validating its technology with four different products, so we are entering an exciting phase,” says
Markus Hökfelt, head of SEB Greentech.
EnginZyme (the three founders Robin Chatterjee, Karim Engelmark Cassimjee, and Samuel Härgestam in the picture above) has developed a technology platform that combines the natural ability of enzymes to create chemical reactions with efficient chemical production. The company is now raising 11 million euros in a financing round where SEB Greentech and Industrifonden is participating