– Allozymes has raised a $15 million series A funding round to expand its business from a helpful service to a world-class resource.
– The company uses microfluidics to quickly test millions of enzyme variants per day, accelerating enzyme-screening techniques in the biotech and chemical industry.
– Allozymes has attracted customers across various industries, offering enzyme optimization services such as enzyme-tailoring through SingZyme and MultiZyme, and aims to create the largest enzyme data library in the world for AI applications.
Allozymes’ innovative method of quickly testing millions of bio-based chemical reactions has led to the creation of a unique and valuable dataset. With this dataset, the company plans to utilize artificial intelligence and attract investors. Recently, Allozymes raised $15 million in series A funding to expand its business from a service to a world-class resource.
From its humble beginnings with less than five people and a small lab space, Allozymes has grown to 32 employees across the U.S., Europe, and Singapore, with 15 times the lab space. The company’s technology, which involves testing millions of enzyme variants per day through a microfluidics system, has revolutionized the process of finding efficient enzymes for various biotech and chemical industry needs.
Allozymes has already attracted customers in industries like agriculture, cosmetics, and food processing, with success stories including the production of chemicals like phytoene and bisabolol in more sustainable ways. The company’s enzyme-tailoring services, called SingZyme and MultiZyme, offer optimization and discovery of enzymes for specific needs. Allozymes also plans to expand into pharmaceuticals and develop a machine learning model based on the vast amount of data it collects.
The recent $15 million funding round includes investments from Seventure Partners, NUS Technology Holdings, Thia Ventures, and ID Capital, along with repeat investments from other firms. With this financial support and a solid foundation, Allozymes is well-positioned to achieve its goals, including potential expansion into the pharmaceutical industry and the opening of a U.S. office.