Wednesday 14th December 2022, 4:00pm
Green Bioactives Ltd (‘GBL’), a world-leader in the discovery, development and sustainable production of high-value natural products derived from plant cell cultures, announces that it has successfully completed a £2.6 million seed financing round.
The funding round was led by Eos Advisory LLP and included investments from London-based Regenerate Ventures Agtech Fund, London and Singapore co-headquartered Milltrust International Group, and Scottish Enterprise, which also provided the company with advisory support.
The financing will enable the company to grow its management, production and research team capabilities, allowing the company to demonstrate its biomanufacturing approach at larger scale.
GBL is currently working with several world-leading partners to produce high value bioactives that cannot be readily produced sustainably or economically using alternative production approaches. These include:
“This £2.6m seed funding is an incredibly exciting milestone for Green Bioactives, and we’re delighted to have attracted such a strong international investor base – demonstrating the global commercial potential of our plant cell culture-based biomanufacturing platform. The investment comes at a key time for the company, as we prepare for further growth and continue to develop our technology, working towards our goal of becoming the world’s leading supplier of safe, natural and sustainably-sourced plant-derived products.”
David McElroy, CEO, Green BioactivesThe funds will also be used to pursue new sector-specific commercial partnerships, to increase marketing efforts and product sales and to secure IP and Freedom to Operate on both the company’s core biomanufacturing process components and its product-specific plant cell lines. To meet these goals, Green Bioactives has already begun hiring for a range of commercial and technical roles across the business.
“Green Bioactives represents an exciting, innovative approach to the production of plant-derived natural products, and the company’s ethos of sustainability makes it a stand-out player at a time when companies across a range of industries are searching for more environmentally-friendly and commercially-viable ways to produce these kinds of products. Green Bioactives has demonstrated significant progress on its platform since its formation, and we’re excited to be helping the company develop further as part of this seed round.”
Andrew Durkie, Partner at EosAndrew Durkie, Partner at Eos, will join the Green Bioactives Board of Directors.
Source: Green Bioactives Limited
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