[Funding alert] Latvia-based SpirulinaNord Secures €600K in Funding

At present, companies around the globe are pioneering groundbreaking methods to deliver products that not only promote well-being but also align with eco-friendly practices.

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SpirulinaNord has emerged as a game-changer in the field of biotechnology, specifically focusing on the cultivation and delivery of fresh spirulina products. Spirulina, a microscopic algae with powerful health benefits, has been long studied for its incredible nutritional properties.

With this funding, a modern biotechnology production plant is being built in Riga, increasing the spirulina cultivation capacity more than ten times. SpirulinaNord has developed an innovative bioreactor for cultivating the algae spirulina, and has created recipes for several products.

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Spirulina is a widely used food supplement that is rich in protein and minerals such as iron. As a result, they decided to focus on closed indoor photobioreactors which prevent air, water, and insect pollution, ensuring a superior-quality product.

Agnese Stunda-Zujeva said, “In the Baltic states, less than 20 per cent of people know about spirulina, and if they do, they associate it with bad-smelling powder. Therefore, our challenge was to create a new market for spirulina and reintroduce it to people positively. This was and still is a major challenge for us,”.

About SpirulinaNord

Agnese Stunda-Zujeva (CEO) and Kristine Vegere (COO), both chemical engineering researchers at Riga Technical University, shared a common vision in 2016 to develop an applied biotechnology project that could enhance personal health and well-being.

Their extensive research on the health benefits of spirulina and the limitations of traditional cultivation methods led them to undertake this ambitious journey.

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In 2018, they were joined by Kristine’s husband, Kaspars, who brought expertise in business management, IT, and process automation. This trio registered SpirulinaNord as a company in 2019.