Green Bioactives Ltd (GBL) has announced that it has successfully completed a £2.6 million seed financing round.
The funding round was led by Eos Advisory LLP and included investments from London-based Regenerate Ventures’ Agtech Fund, London and Singapore co-headquartered Milltrust International Group, and Scottish Enterprise, which also provided the company with advisory support.
The financing will enable the company to grow its management, production and research team capabilities, allowing the company to demonstrate its biomanufacturing approach at larger scale.
To meet these goals, GBL has already begun hiring for a range of commercial and technical roles across the business.
GBL is currently working with several partners to produce high value bioactives that cannot be readily produced sustainably or economically using alternative production approaches.
Andrew Durkie, partner at Eos, will join the Green Bioactives Board of Directors.
David McElroy, CEO of Green Bioactives, commented:
“This £2.6 million seed funding is an incredibly exciting milestone for Green Bioactives, and we’re delighted to have attracted such a strong international investor base – demonstrating the global commercial potential of our plant cell culture-based biomanufacturing platform.
“The investment comes at a key time for the company, as we prepare for further growth and continue to develop our technology, working towards our goal of becoming the world’s leading supplier of safe, natural and sustainably-sourced plant-derived products.”
