Singapore-based synthetic biotech firm Allozymes raised US$15 million in a series A headed by Seventure Partners and Xora Innovation.
Thia Ventures and NUS Technology Holdings, the National University of Singapore’s investing arm, provided further funding. It plans to expand into Europe and form food and chemical partnerships with the money.
Read also – UAE-Based Property Finder Secures $90 Million in debt financing
It tests over 20 million variants a day using its enzyme screening technology. This technology lets the corporation create industrial enzymes.
The company wants to develop strain engineering, bioprocess development, and downstream processes internally. It can efficiently develop new enzymes and strains with these efforts.
CEO Peyman Salehian told TechCrunch these include enzymes that breakdown microplastics and turn plant and fruit fibres into sugar substitutes.
Read also – Singapore-Based HTX Ventures Invests in ChainML
A comprehensive enzyme data library is another Allozymes priority. This library would help design biocatalytic solutions for various sectors using AI and machine learning algorithms.
Xora Innovation, the deep science investing arm of state-owned Temasek Holdings, seeded the company with US$5 million.
About Allozymes
The fast-growing biotechnology company Allozymes uses its ultra-high-throughput platform technology to produce novel enzymes and unlock the bioeconomy across sectors.
