Veenendaal, the Netherlands-based Phycom, a microalgae ingredient producer, announced on Thursday that it has secured €1.75M in a fresh funding round from ROM Utrecht Region, along with a private investor.
The announcement comes five months after raising €9M from Corbion, Phase2.earth, Invest-NL, and Invest International last September. With the latest funding, Phycom has raised a total funding of over €10.5M.
The microalgae producer is honored that the ROM endorses microalgae production for healthy people and animals. The company will use the funds to optimise technology and scale up microalgae production and sales.
The primary food production industry is shifting toward exploring sustainable food options and alternative protein sources.
Microalgae is one promising alternative due to its sustainability gains and health benefits.
To overcome this challenge, Phycom has successfully developed an economically viable and scalable production method for high-quality microalgae, marking a significant breakthrough in the industry.
Phycom: Improving and strengthening food availability
Founded in 2008, Phycom is a microalgae ingredient producer that strives to improve and strengthen food availability and quality for humans and animals.
Phycom empowers food-producing companies with innovative algae ingredients and enhances specialty production in the feed industry through algae’s functional properties.
Currently, the Dutch company services the B2B food and feed industry with microalgae products and cultivation optimisation services.
Apart from production, Phycom is involved in projects that study algae’s functionality, market applicability, and product applications. One of its partners is Wageningen University and Research.
Phycom’s modular system cultivates multiple microalgae species simultaneously, ensuring high-yield output and continuous availability of nutritious food ingredients. The fully closed system minimises environmental impact and guarantees year-round production.
Within the past four years, Phycom has built two production facilities in Veenendaal, demonstrating the scalability and feasibility of its microalgae production technology.
Phycom’s CFO Willem Kuijsten says, “This additional funding of ROM Utrecht Region boosts our confidence even more in the potential of our company and our algae products. It paves the way to strengthen our proposition, growth of the organisation, and go-to-market strategy even further.”
Marco Verloop, alderman of municipality Veenendaal, with the finance, economy, and sustainability portfolio, adds, “In our environmental strategy, we strive for a healthy, sustainable, and safe Veenendaal. We also continuously improve our location policy, business climate, and employer services. The investment of ROM Utrecht in Phycom fits within these ambitions, and we wholeheartedly applaud it.”
The investor
ROM Utrecht Region is a social investor that increases access to capital for innovative companies in the region.
The ROM invests in the significant transition sectors important for tomorrow’s economy: digital, health, and sustainability.
To realise the financing for these companies, the ROM works together with many partners within and outside the region.
The ROM has two funds: the Startup Innovation Fund (SIF) Fund and the Participation Fund. The investment in Phycom is done out of the Participation Fund. The Participation Fund was partly made possible by co-financing from the Province of Utrecht and the European Regional Development Fund (ERDF).
Juri van Dolderen, ROM Utrecht Region says, “ROM Utrecht Region invests in companies that make the world of tomorrow a better place. Phycom and its microalgae are a perfect fit, as microalgae are a critical element in the protein transition. Phycom can be a game-changer for the industry and can significantly reduce the food industry’s enormous footprint. ROM Utrecht Region is proud to contribute to this important development.”
Read the orginal article: https://siliconcanals.com/news/startups/dutch-phycom-secures-1-75m/
