COMPANY OVERVIEW
Background: Founded in 2010 by IIT-M alumni, the company is addressing the fossil fuels caused climate crisis by transforming cultivated tropical seaweed into a carbon-negative and scalable feedstock of the future.
Vertically integrated, the company has reimagined ocean agriculture via its technology platform for large-scale, sustainable seaweed cultivation, and its proprietary biorefinery platforms convert the cultivated feedstock into applications for large markets such as regenerative agriculture, bulk food applications, and biomaterials.
The agriculture product vertical is commercial and scaling in 25+ countries. Partners include several global agro-chem majors such as Yara, Sumit Agro, FMC, etc. Other verticals are in different stages of R&D and commercial development. With $30M raised to date, the company employs ~300 people across 7 countries with two subsidiaries in Indonesia and the Netherlands.
Management Team: Over 100 years of collective experience with the co-founder, chairman & MD having over 40 years of leadership experience in industry, government and academia. Other co-founders and CxOs have over 14+ years of leadership experience.
USE OF FUNDS
Looking to raise US$18-20M in equity and US$4M in debt. The company aims to deploy the funds for:
– Commercial Scale-up (60%)
– R&D (20%)
– G&A scaleup and corporate use (20%)
POTENTIAL IMPACT
The Company is a leader in the emerging ocean economy, converting tropical seaweeds into a viable, scalable, and flexible feedstock of the future, enabled by technology to allow for large-scale sustainable cultivation on the oceans and biorefinery platforms to develop industrial applications from the harvested biomass. Seaweed cultivation for feedstock replacement offers significant GHG emission offsets.
FUNDRAISE OVERVIEW
Deal Size:
Deal Type:
Financing Type:
US$11M - US$30M
Within 6 Months
Equity, Debt, Grant
ACTIVITY
Sector:
Country:
Other: ClimateTech, Energy Access, IoT, etc.
India
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