Saturday, June 22, 2024
HomeFunding Singapore-Based Startup Peptobiotics Secures US$6.2 Million in series A Funding

[Funding Alert] Singapore-Based Startup Peptobiotics Secures US$6.2 Million in series A Funding

Peptobiotics a Singaporean startup has raised US$6.2 million in Series A funding. The additional funding will assist the company in bringing its antibiotic substitute to the agricultural and aquaculture industries.

Peptobiotics a Singaporean startup has raised US$6.2 million in Series A funding. The additional funding will assist the company in bringing its antibiotic substitute to the agricultural and aquaculture industries.

Peptobiotics co-founder and CEO Jonathan Bester said the series A raise gives the company the working capital “to produce larger commercial volumes” of its product to cut antibiotics out of the food supply chain.

Read also – UAE-Based U-topia Raises $850K in Funding

The company was founded in 2020 with the goal of addressing the overuse of antibiotics in farming and aquaculture, which leads to the emergence of increasingly resistant bacteria.

According to the business, this is especially concerning in the US, where animals utilize over 80% of antibiotics. Recombinant antimicrobial peptides, which are naturally occurring proteins that inhibit bacteria, are used in its solution.

“Our focus at Peptobiotics is to use biotech to create a real agricultural antibiotic alternative that is effective for farmers, clean for nature, humane for animals, and safe for consumers,” said Bester.

Read also – India-based Filter Capital secures the final close of the Maiden Fund at $100 million

An aquaculture-focused company called Hatch Blue led the oversubscribed round. Farmabase, a Latin American animal healthcare company, France’s Seventure Partners, Australia’s GrainCorp Ventures, and Singapore’s Seeds Capital were among the other participants.

About Peptobiotics

Peptobiotics prevents livestock diseases and maintains sustainable agricultural output. It is EF Venture Capital-backed synbio company based in Singapore.

- Advertisement -
RELATED ARTICLES
- Advertisment -

Most Popular