Octarine Bio, a biotech startup, secures €4.35 million. The investment is intended to help the business accelerate the development of its offering in order to better position it for commercialization. Over €12 million has been raised by Octarine Bio since the beginning of 2020.
Consumers and manufacturers of all things colourful are becoming more interested in significantly decreasing the environmental toxicity that has historically dogged the sector, as shown by French firms Pili and Ever Dye.
Unconventional Ventures led the €4.35 million raising money round for the company, which included participation from dsm-firmenich Venturing, Óskare Capital, and The Footprint Firm.
Octarine CEO and co-founder Nethaji Gallage commented:“Octarine’s synthetic biology platform has allowed us to quickly iterate from one ingredient to validating our platform capabilities, and today we collaborate with global industry leaders on the path to commercialisation of our flagship products.”
Leading synthetic biology platform Octarine Bio’s primary goal is to promote bio-based, sustainable solutions to the most important global problems via innovation and discovery. Motivated by the natural world, to preserve it.