Swedish green tech company EnginZyme, which develops biomanufacturing processes for the sustainable manufacturing of everyday products, announced on 19 December that it has raised €21 million in a Series B financing round. New investors, including Almi Invest GreenTech, Navigare Ventures and Bunge Ventures, joined existing investors Sofinnova Partners, Industrifonden and SEB GreenTech VC in the funding round.

EnginZyme's goal is to put sustainable, biobased technology within reach of companies across various sectors. Its technology platform utilises nature's catalysts, enzymes, combining the power of biology with the efficiency of the chemical industry in a best-of-both-worlds solution.

By replacing traditional fossil-based manufacturing with its patented cell-free technology platform, the company seeks to accelerate the shift toward more sustainable manufacturing of the products that modern society relies on.

"This fundraising marks a pivotal moment for EnginZyme," said Dr Karim Engelmark Cassimjee, CEO and co-founder of EnginZyme. "This started as an idea at The Royal Institute of Technology in Stockholm to fight climate change by enabling greener chemistry for every industry. We attracted several established investors and created a company at the intersection of chemical engineering and biology. Today, we are extremely proud to have the support of this high-quality syndicate of investors as we drive forward into our next stage of growth."

EnginZyme, which is recognised as a Technology Pioneer by the World Economic Forum, will use the Series B funds to execute its plans for large-scale global commercialisation and build new features of its proprietary technology platform to enhance performance and facilitate scaling in current and new markets.