Green Bioactives Raises £2.6 Million in Seed Funding to Enhance Sustainable Plant Product Biomanufacturing Platform
Green Bioactives Ltd., a world leader in finding, developing, and making high-value natural products from plant cell cultures in a sustainable way, said that it had finished a £2.6 million seed financing round.
Eos Advisory LLP led the funding round, which included investments from Regenerate Ventures' Agtech Fund in London, Milltrust International Group, which has offices in both London and Singapore, and Scottish Enterprise, which also gave the company advisory support.
The proceeds will help the company grow its management, production, and research teams so it can demonstrate its biomanufacturing approach on a larger scale.
GBL has been working with several world-class partners to make high-value bioactives that can't be easily made sustainably or cost-effectively using other production methods. These include:
A multinational consumer goods company developing and selling products in foods and drinks, home care, personal care and cosmetics
A multinational biotechnology company developing and selling products for commercial applications in pharmaceuticals, consumer healthcare and agriculture
A global agricultural solutions company specialising in the development, marketing, and processing of agricultural inputs such as crop protection products, seeds, and fertilizers.
The funds will also be used to pursue new sector-specific commercial partnerships, increase marketing efforts and product sales, and 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.
David McElroy, CEO of Green Bioactives, commented: “This £2.6 million in 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.”
Andrew Durkie, Partner at Eos, added: “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.”
Source: Green Bioactives