HTGF backs Numaferm

European Investment Fund (EIF) also invested in the round alongside business angels and the founders of molecular diagnostic company Qiagen.

Evonik now holds a minority share in the company through its venture capital unit.

The round's value was not disclosed, though a statement put the figure invested in the seven-digit range.

Numaferm plans to use the fresh capital to drive forward technological development and bring its initial products to market.

Evonik is a specialist chemical developer that employs 35,000 people across 100 countries. It generated adjusted EBITDA of €2.2bn from sales of €12.7bn in 2016. It is also an LP in HTGF III, which became operational this week. 

Previous funding
In May 2017, HTGF, EIF and business angels backed a seven-digit seed funding round for Numaferm.

Company
Numaferm was founded in 2017 as a spinout from Heinrich-Heine University in Düsseldorf. The company is a biotechnology developer, focusing on peptide production, a class of molecules that are used in a variety of medical, cosmetic and nutritional-physiological applications.

People
High-Tech Gründerfonds - Philipp Rittershaus (investment manager).
Numaferm – Christian Schwarz (managing director).

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• Topics
• Early-stage
• DACH
• Healthcare
• Venture
• European Investment Fund
• High-Tech Gründerfonds
• Germany