US-based bioenergy group Agrivida has closed a Series C funding round, raising $15m for its development and commercialisation.
In addition, Prairie Gold, Presidio, Gentry Venture Partners, Northgate Capital, Alexandria Real Estates Equities and Syngenta Ventures also committed capital.
Agrivida CEO Mark Wong said, ‘The financing will enable us to continue the development and commercialisation of our proprietary INzyme platform, which will allow our partners to produce non-food biomass with properties customised to enhance specific chemical processes, including generation of cellulosic biofuels and other related products, within existing infrastructure.’
Agrivida said it plans to commercialise its platform through alliances across the bioindustrial product supply chain.
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