Octarine Bio raises another €4.35 million
29/11/2023
Its most recent round was oversubscribed and brought in €4.35 million, led by Óskare Capital, Unconventional Ventures, The Footprint Firm and DSM-Firmenich Venturing. The company’s latest fundraising was motivated by its mission to scale operations and “optimise its colours” prior to commercialisation.
Octarine describes its violacein-derived dye platform as “providing a highly sought-after and difficult-to-source colour spectrum”, alongside an eco-friendlier, proprietary textile dyeing process.
“Óskare Capital scouted and first invested in Octarine three years ago and they have made phenomenal progress since then, expanding its pipeline and validating its platform beyond initial products,” said president and co-founder, Alexandre Ouimet-Storrs. “Its sustainable dye product line is truly groundbreaking and we hope to see many more innovative products come to market thanks to Octarine's strong biotech platform."
Image: Octarine Bio.
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