Odense-based biotech startup Bioomix has secured a $6.7 million investment round, led by West Hill Capital, with participation from existing investors such as PreSeed Ventures, Planetary Impact Ventures, HBL Invest, and David Hollidge. The funding aims to accelerate the startup's mission to make agriculture more sustainable through innovative microbial solutions.
The Technology: microbeTRAP
Bioomix, co-founded by Morten Østergaard Andersen and Julia Magdalena Østergaard Andersen, has developed a groundbreaking technology called microbeTRAP. This method employs 3D bioprinting to identify high-performing microbes from the environment, offering a sustainable and efficient alternative to synthetic fertilizers and pesticides. Their first product, SeedSpeed®, a biostimulant, was launched after just 17 months of operation.
The Need for Sustainable Solutions
The global population is expected to reach nearly 10 billion by 2050, increasing the demand for food. Traditional farming methods, which contribute to 37% of global warming and are economically straining for farmers, are unsustainable. Fertilizer prices have doubled over the last four years, and agrochemicals often account for up to 50% of a farmer's revenue.
Anders Kjær, PSV DeepTech Fund Director, emphasized the startup's alignment with their fund's commitment to support technology and products that are beneficial for the world and the end customer. Thomas Høgenhaven, Managing Partner at Planetary Impact Ventures, highlighted the urgent need for solutions that can help farmers transition to regenerative farming practices.
Morten Østergaard Andersen, CEO and Co-founder of Bioomix, expressed his excitement about the new investment. "With this infusion of capital, we can accelerate the development and manufacturing of innovative microbial solutions for farmers, promoting sustainable, productive, and profitable food production," he said.
The Bigger Picture
Bioomix aims to address some of the most pressing challenges of our time, including global food security, deforestation, and environmental impact. The startup's microbial solutions could pave the way for a green transition in the agricultural sector, making it more sustainable and reducing its environmental footprint.
The recent funding round propels Bioomix closer to its mission of revolutionizing agriculture by harnessing the power of nature. With the global challenges that lie ahead, the startup's innovative microbial solutions could be a game-changer in creating a more sustainable and eco-friendly agricultural landscape.