Arzeda, a protein design startup that generates new enzymes for industrial, agricultural and other applications, announced a $38 million investment round.
The Seattle-based company creates blueprints for enzymes using protein design software. Arzeda also tests and develops the enzymes in its labs.
Customers include Unilever, which has used Arzeda to discover new enzymes for cleaning and laundry products. It also partners with oil giant BP, and develops enzymes involved in fermentation with biotech company Amyris. The company’s technology is also used to produce stevia, a sugar substitute.
Arzeda was the first company to spin out of the lab of David Baker, head of the University of Washington’s renowned Institute for Protein Design, which has helped launch several other biotech startups out of Seattle.
Arzeda CEO Alexandre Zanghellini co-founded Arzeda in 2009, the same year he earned his Ph.D. in Baker’s lab.
Other co-founders include Daniela Grabs Röthlisberger, vice president of strategic projects, and Eric Althoff, who is now at Seattle Children’s Therapeutics.
Investors in the latest round include Sofinnova Partners, Fall Line Capital, Sucden Ventures, Silver Blue, and the venture arm of W.L. Gore & Associates, the makers of Gore-Tex. Previous investors Bunge Ventures, Lewis & Clark Agrifood, and the venture arm of the Continental Grain Company also participated.
The company bootstrapped for nine years before raising venture capital. Total funding to date is $86 million, including a $33 million Series B round raised in 2022. Total headcount is 70 employees.
https://ift.tt/rJMwG2H September 17, 2024 at 01:00PM GeekWire
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