Algenetix Raises $2M in Series A Funding Round, Aims to Boost Algae Oil Accumulation
by Jim Lane (Biofuels Digest) In California, Algenetix, an industrial biotech company incubated from the pipeline of Kapyon Ventures has closed $2.0M in Series A-1 funding to further commercialize its PhotoSeed platform.
The groundbreaking technology vastly improves oil productivity in microbes by accelerating oil accumulation and subsequently preventing its degradation in the cell. …
With this funding, Algenetix will further advance its PhotoSeed program and develop renewable oils that can sustainably replace petroleum for fuels and chemicals without compromising land and food production resources. Algenetix will be conducting the development in partnership with the laboratories of Dr. Janet Donaldson at Mississippi State University. READ MORE