Industrifonden leads €4.6m extended series-A for EnginZyme

Newly established venture capital firm SEB Greentech and existing shareholders also took part in the round, which brings the company's total series-A funding to €11m. The startup in April last year raised €6.4m in the first tranche of series-A financing, which was led by Sofinnova Partners.

CEO Karim Engelmark Cassimjee said current bio-manufacturing processes were too expensive and too difficult to scale to be economically feasible, and that the funding will enable the company to show the problem was solvable. 

The company will this year pilot production processes and pursue partnerships across markets such as cosmetics, food applications, alternative sweeteners, and flavours and fragrances. 

Company
Founded in 2014 and based in Stockholm, EnginZyme is developing a technology platform for sustainable production of chemicals. It has additional offices in Winchester in the UK and Philadelphia in the US, and employs fewer than 50 staff, according to LinkedIn. 

People
EnginZyme – Karim Engelmark Cassimjee (CEO).
Industrifonden – Patrik Sobocki (investment manager).
SEB Greentech – Markus Hökfelt (head).
Sofinnova Partners – Michael Krel (partner).

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• Topics
• Early-stage
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• Sofinnova Partners
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