EnginZyme Extends Series A to €11 Million to Advance Cell-Free Chemical Production Platform in Funding Round Led by Sweden’s Industrifonden
11.2.2021 09:00:00 EET | Business Wire | Press release
EnginZyme, a company developing a technology platform for sustainable production of chemicals, today announced it has closed an extension to its Series A financing round, bringing the total raised to €11 million. The extension round was led by Industrifonden, Sweden’s largest deep tech venture capital firm, followed by SEB Greentech VC and existing shareholders.
“Current bio-manufacturing processes are too expensive and too difficult to scale to be economically feasible for most chemicals and products,” said Dr. Karim Engelmark Cassimjee, CEO of EnginZyme. “This funding round will allow us to demonstrate that the problem is solvable, and that our approach is a versatile and scalable solution.”
More than half of the global economy’s physical inputs could be produced biologically, according to a 2020 McKinsey report. The economic potential of applications based on innovative biological processes is immense -- those that are scientifically feasible today could have a yearly economic impact of up to $4 trillion over the next two decades, according to the same report.
EnginZyme’s technology platform leverages engineered, immobilized enzymes to create a best-in-class approach that combines the breadth and power of biology with the efficiencies of the chemical industry. It thereby overcomes the limitations of fermentation and promises increased productivity at lowered costs, hence increasing the sustainability of chemical production.
While other bio-manufacturing technologies often struggle to move out of the lab to deliver meaningful volumes, EnginZyme has produced catalysts at multi-kilogram scales and operated pilots capable of producing 50 tons per year of product. This year will see the company pilot production processes and advance partnerships across markets such as high-performance cosmetics, food applications, alternative sweeteners, and flavors and fragrances, testifying to the versatility and scalability of its technology.
“EnginZyme is demonstrating its ability to replace traditional, fossil fuel-based, energy-intensive, unsustainable chemical production with a green alternative that doesn’t compromise on efficiency,” said Patrik Sobocki, Investment Manager at Industrifonden. “The company represents the future of synthetic biology and the future of chemical production. EnginZyme has a blue ocean opportunity to redefine the chemical industry. We are pleased to add EnginZyme to our deep tech portfolio as it fits well with our strategy.”
“The climate crisis is the challenge of our lifetime. Building a sustainable future requires the rapid adoption of technologies like EnginZyme’s in hard to abate sectors such as chemicals manufacturing,” said Markus Hökfelt, head of SEB Greentech VC. “We are thrilled to make EnginZyme our first SEB Greentech VC investment.”
EnginZyme previously announced its Series A investment led by Sofinnova Partners, a leading European life sciences venture capital firm based in Paris, London, and Milan. "This milestone strengthens our early conviction in the potential of EnginZyme’s unique technology to contribute to a more sustainable future. Welcome to Industrifonden and SEB Greentech VC," said Michael Krel, Partner at Sofinnova Partners.
About Industrifonden
Industrifonden is a Nordic venture capital investor based in Stockholm. We invest in breakthrough technologies and science-based innovation – the industry of tomorrow. For more information, visit www.industrifonden.com.
About SEB Greentech
SEB Greentech VC invests equity in start-ups with a major potential to reduce GHG emissions and keep our economy within the planetary boundaries. We want to help our portfolio companies grow with access to a broad industry and investor network from global leading clients and partners. SEB Greentech VC is part of SEB, a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long-term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, the bank's operations have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in its presence in some 20 countries worldwide. At 31 December 2020, the Group's total assets amounted to SEK 3,040bn while its assets under management totalled SEK 2,106bn. The Group has around 15,500 employees. Read more about SEB at https://www.sebgroup.com
About EnginZyme
EnginZyme’s cell-free bio-manufacturing platform marries the efficiency of the chemical industry with the power and diversity of biology, establishing a foundation for the future chemical industry. The company is headquartered in Stockholm, Sweden. For more information, visit www.enginzyme.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210210005827/en/
Contact information
EnginZyme Contact:
Karl Schmieder
messagingLAB for EnginZyme
enginzyme@messaginglab.com
Industrifonden Contact:
Claes Delin for Industrifonden
claes.delin@cordcom.se
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Sparxity Closes Series A, Bringing Total Funding to $90M10.11.2026 15:00:00 EET | Press release
Sparxity, a leader in sparse-native computing, today announced the close of its Series A, bringing cumulative funding secured by its team to $90M. The round was led by ICM HPQC Fund and joined by investors such as Lockheed Martin Ventures, GlobalFoundries, GS Futures, Cloudberry Ventures, TGFS and the EIC Fund. The financing also includes angel investments from TIME100 AI leaders Richard Socher (Recursive Superintelligence) and Nancy Xu (Salesforce-acquired Moonhub), alongside continued support from Atlantic and Silicon Catalyst. The funding will accelerate the development of specialized chips for fine-grained dynamic sparsity, targeting up to 44× faster AI inference in ultra-sparse models, bringing greater energy efficiency by computing only what matters. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110433588/en/ The Sparxity Multi-Rack System “Our work with PEER demonstrated the potential of dynamic sparsity, activati
Transition Industries Selects Technip Energies as PMC Partner for Pacifico Mexinol Ultra-Low Carbon Methanol Project10.11.2026 15:00:00 EET | Press release
Transition Industries announces the selection of Technip Energies as its Project Management Consultancy (PMC) partner for the Pacifico Mexinol project, located in Sinaloa, Mexico, which is expected to become the world's largest ultra-low carbon chemical production facility. Once operational, the facility will produce annually approximately 350,000 metric tons of RFNBO (Renewable Fuel of Non-Biological Origin) methanol and 1.8 million metric tons of ultra-low carbon methanol from natural gas with carbon capture, helping meet growing global demand through a lower-carbon production model. “We are pleased that Technip Energies has joined the project team and will bring their global project management expertise to our landmark industrial development project in Mexico. Technip Energies was selected for their project management expertise, technical know-how and execution capabilities,” says Diego Martinez, Transition Industries Chief Operating Officer. The project will use existing infrastruc
Telia Estonia trials Adtran 50G PON technology to prepare for next-generation broadband services10.11.2026 15:00:00 EET | Press release
Adtran today announced that Telia Estonia, part of Nordic and Baltic telecommunications operator Telia Company, is trialing its 50G PON technology as the next step in the evolution of its fiber broadband infrastructure. Building on its deployment of Adtran’s fiber access platform, the proof of concept (PoC) will evaluate how 50G PON can coexist with existing GPON and XGS-PON services on a common network infrastructure. The trial will help Telia Estonia prepare for future residential and business connectivity requirements while providing a practical framework for introducing higher-capacity services as market needs develop. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110315607/en/ Adtran’s 50G PON technology is helping Telia Estonia prepare for the rollout of next-generation digital services. “Today, we cannot yet accurately predict which services we’ll be using in ten or twenty years’ time. What we can already see, how
Nebul Adopts NetApp Novus to Power Sovereign AI Infrastructure10.11.2026 15:00:00 EET | Press release
NetApp® (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that Nebul, a European AI-native cloud provider, is the first neocloud to adopt NetApp Novus™, its new high-performance architecture designed to deliver the fastest storage on the planet. Nebul is building the Intelligent Cloud, a sovereign platform integrating accelerated infrastructure, enterprise data services and production AI capabilities. Novus, now generally available, is designed to maximize utilization for millions of GPUs and is architected for up to 100 TB per second of aggregate throughput. Moving quickly to adopt the groundbreaking technology, Nebul and NetApp are exploring new opportunities to help organizations achieve AI-powered advantage and unlock greater value from their data. Bringing together Nebul’s sovereign AI services and the proven power of the NetApp Platform, the companies are exploring opportunities to accelerate the adoption of sovereign AI while giving enterprises the sec
Vasion ® Fall Release Eliminates Dark Documents and Makes Operational Documents AI Ready10.11.2026 15:00:00 EET | Press release
Vasion, the Intelligent Document Automation company, announced its fall release, which captures the context behind operational documents and makes them ready for AI without IT giving up control. Vasion will demonstrate it at Microsoft Ignite, November 17-21, in San Francisco, booth 5509. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110362305/en/ Vasion® Fall Release Eliminates Dark Documents and Makes Operational Documents AI Ready “Every company runs on operational documents: the invoices, claims, contracts, and intake forms that move money and make decisions,” said Scott Lee, Chief Product Officer at Vasion. “But the moment one of those documents is printed or scanned, it loses the context that explains it, so the AI a company invests in can’t see the work its people actually do. This release captures that context where the document is born and gives IT the control to put it to work.” Operational documents are what wo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom