[Funding alert] Dutch-based Phycom Raises €1.75Million in Fresh Round Funding

Monday 19, 2024 | By Startup Rise EU

Dutch-based Phycom raises €1.75million in fresh round funding from a private investor and the ROM Utrecht Region in a new investment round.

Dutch-based Phycom raises €1.75million in fresh round funding from a private investor and the ROM Utrecht Region in a new investment round.

Read also - London-based Kynd Secures an Undisclosed Amount Funding

Five months have passed since Corbion, Phase2.earth, Invest-NL, and Invest International raised €9 million in September of last year. With this most recent round of fundraising, Phycom has raised more than €10.5 million in total.

The ROM's endorsement of microalgae cultivation for the health of humans and animals is an honor for the microalgae grower. The money will be used by the business to improve technology and increase the production and sale of microalgae.

Read also - Oxford-based MeVitae Raises €1.7 Million in Seed Funding

The main sector of the food production industry is changing to investigate more sustainable food options and different sources of protein. Because of its advantages in terms of sustainability and health, microalgae is one viable substitute.

Phycom’s CFO Willem Kuijsten says, “This additional funding of ROM Utrecht Region boosts our confidence even more in the potential of our company and our algae products. It paves the way to strengthen our proposition, growth of the organisation, and go-to-market strategy even further.”

Marco Verloop, alderman of municipality Veenendaal, with the finance, economy, and sustainability portfolio, adds, “In our environmental strategy, we strive for a healthy, sustainable, and safe Veenendaal. We also continuously improve our location policy, business climate, and employer services. The investment of ROM Utrecht in Phycom fits within these ambitions, and we wholeheartedly applaud it.”

Juri van Dolderen, ROM Utrecht Region says, “ROM Utrecht Region invests in companies that make the world of tomorrow a better place. Phycom and its microalgae are a perfect fit, as microalgae are a critical element in the protein transition. Phycom can be a game-changer for the industry and can significantly reduce the food industry’s enormous footprint. ROM Utrecht Region is proud to contribute to this important development.”

About Phycom

Phycom, a microalgae ingredient manufacturer, was established in 2008 with the goal of enhancing and fortifying the availability and caliber of food for both people and animals. Phycom uses the functional features of algae to improve feed industry specialty production and empower food-producing firms with novel algae components.

Read also - UK-based Codestone Acquired Cloud Business

Recommended Stories for You

story
News

German-based Octomind Secures $4.8 Million in Seed Funding

Startup Rise EU Tuesday 23, 2024

story
News

Dublin-based SynOx Therapeutics Secures $75Million in Series B Round Funding

Startup Rise EU Tuesday 23, 2024

story
News

Paris-based Zefir Secures €11Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Helsinki-based HappySignals Secures €12 Million in Funding

Startup Rise EU Tuesday 23, 2024

story
News

Italian-based Lithium Lasers Secures €2 Million in Funding

Startup Rise EU Monday 22, 2024

story
News

[Funding alert] Munich-based Smart Reporting Secures €23 Million in Series C Round Funding

Startup Rise EU Monday 22, 2024