News | February 11, 2021
EnginZyme Extends Series A to â¬11M To Advance Cell-Free Chemical Production Platform In Funding Round Led by Sweden s Industrifonden
STOCKHOLM (BUSINESS WIRE)
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.”
Sweden’s EnginZyme has extended its Series A financing round to 11 euros million to advance cell-free chemical production platform.
EnginZyme is on a mission to transform the $5 trillion chemical industry through the use of its enzyme-based sustainable production platform, which combines the breadth and power of nature with the efficiencies of state-of-the-art chemical processing techniques
The extension round was led by Industrifonden, Sweden’s largest deep tech venture capital firm, followed by SEB Greentech VC and existing shareholders. In April 2020 EnginZyme unveiled the original Series A investment round of 6.4 million euros, led by Sofinnova Partners.
“Current bio-manufacturing processes are too expensive and too difficult to scale to be economically feasible for most chemicals and products. This funding round will allow us to demonstrate that the problem is solvable and that our approach is a versatile and scalable solution,” said Dr. Karim Engelmark Cassimjee, CEO
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.”