New Wave Biotech funding news – London-based New Wave Biotech has Secured €1.2 Million in Latest Funding

The investors include EIT Food (supported by the European Institute of Innovation and Technology) and Innovate UK (part of UK Research and Innovation).

Zoe Yu Tung Law, CEO and Co-Founder at New Wave Biotech commented: “Access to healthy and sustainable food should be a universal right but current food production processes are harmful to the environment and threatened by climate change. From alternative proteins to biochemicals and biomaterials, bioproduction has the potential to transform our food system and supply chains for a more sustainable future. 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.”

New Wave Biotech was founded in 2022 by Zoe Yu Tung Law (CEO) and Oli Hall (CTO). The company focuses on making global supply chains more sustainable. Their goal is to use simulation software to help biomanufacturing be smarter, faster, and more eco-friendly by predicting the future impact of bioprocesses.

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Their Bioprocess Foresight platform simulates bioprocesses to predict results, costs, and environmental impact, and it improves over time by learning from real-world data.

According to their website, “Biomanufacturing has the potential to change the world (literally ⅓ of global manufacturing, with up to 90% less emissions for some products), but 90% of these technologies fail to scale to market. In this industry R&D is slow and insights are painfully expensive, with a huge skills shortage. We believe there’s another way. That’s why we started New Wave Biotech to help biotechnologies scale quicker, cheaper and greener with AI-powered process simulation.“

According to McKinsey & Company, up to 60% of the materials used in the global economy could be made with synthetic biology. However, this idea is still far from reality because 90% of technologies in the synthetic biology field struggle to scale up.

Adam Adamek, Chief Impact Director at EIT Food concluded: “Momentum is building toward transforming current systems for the better, driven by rising consumer demands for ethical and sustainable products and a compounding global climate emergency. We are pleased to be investing in New Wave Biotech as their committed team and leading edge technology make them perfectly positioned to explore the significant growth potential of this sector.”

New Wave Biotech's funding round comes after previous grants from Innovate UK and investment from Big Idea Ventures.

About New Wave Biotech

New Wave Biotech uses AI and computational modeling to help alternative protein companies improve their production processes. This helps them reduce risks, speed up research and development, and lower costs, all while working towards a more sustainable future with biotechnology.