Allozymes founders Peyman Salehian (left) and Akbar Vahidi / Photo credit: Allozymes
Allozymes, a Singapore-based synthetic biotech startup, has secured US$15 million in a series A round led by existing investors Seventure Partners and Xora Innovation.
New backers include Thia Ventures and NUS Technology Holdings, the investment arm of the National University of Singapore, and
With the funding, Allozymes aims to expand into Europe and forge strategic partnerships within the food and chemical sectors.
Allozymes is known for its enzyme screening platform, which can analyze over 20 million variants a day. This technology allows the company to develop enzymes tailored for specific industrial applications.
The company also plans to build internal expertise in strain engineering, bioprocess development, and downstream processes. These efforts will enable it to create new enzymes and strains more efficiently.
These include enzymes that can turn fibers from plants and fruits into sugar alternatives and enzymes that can degrade microplastics, CEO Peyman Salehian told TechCrunch.
Another key focus for Allozymes is the development of a comprehensive enzyme data library. Supported by AI and machine learning algorithms, this library would facilitate the development of biocatalytic solutions for diverse industries.
Previously, Allozymes raised US$5 million in a seed round from Singapore-based Xora Innovation, the deep science investment arm of state-owned Temasek Holdings.
See also: Mirxes records $58.7m operating losses and $24.2m revenue in lead up to HK listing
Editing by Miguel Cordon and Eileen C. Ang
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