Belgium-based biotech firm Novobiom, which we were lucky to visit last year, has successfully raised €2 million in a seed funding round. This financing effort was backed by Noshaq, Planetary Impact Ventures, Circular Innovation Fund, Ciri Ventures, and a group of angel investors. The funds will be allocated to fast-track the development of Novobiom’s innovative waste management solutions, establish a biorefinery pilot plant, prepare for the commercial launch of its soil remediation technologies, and expand the company's team.
Addressing the Global Waste Challenge with Fungal Biotechnology
Novobiom is tackling the increasing global waste problem, which is expected to grow from 2.1 billion to 3.4 billion tonnes by 2050. The company's approach leverages fungal biotechnology to transform waste into valuable resources, such as green chemicals, biogas, and reusable materials. This method emulates natural recycling processes, converting the escalating waste issue into a sustainable solution. Currently, Novobiom focuses on textile recycling, soil remediation, and circularity in cosmetics.
Beyond waste management, Novobiom aims to harness the potential of various fungi strains to drive biotechnology advancements for a circular economy. This vision aligns with the company's collaboration with major industry players like L’Oréal, which has selected Novobiom to join its Green Science Incubation program. This partnership aims to showcase the commercial viability and impact of Novobiom’s technology.
Investors Fueling Sustainable Innovation
Noshaq, one of the primary investors, is an investment group dedicated to supporting companies in the Liege region, focusing on their development and growth. Noshaq provides a variety of financing options tailored to the specific needs of each company, including equity investments, convertible loans, and funds for innovation, infrastructure, and export. Beyond financial support, Noshaq offers strategic guidance and expert advice to help businesses achieve their objectives.
Climate Insiders, a community of Climate Tech investors, also supports Novobiom. This group focuses on backing disruptive hardware deep-tech innovations with the potential to significantly reduce CO2 emissions. Their mission is to democratize climate tech investing, empowering many to align their financial resources with their values and use money as a powerful tool to drive positive environmental change.
With the new funding, Novobiom is well-positioned to advance its groundbreaking work in waste management and soil remediation, contributing to a more sustainable and circular economy.
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