(Yicai Global) June 24 -- Mojia Biotech, a Chinese bio-manufacturing company, has raised USD80 million in its latest financing round led by Singaporean sovereign wealth fund Temasek Holdings.
Private equity investor Lyzz Capital, which focuses on the biotech sector, and existing shareholders Bits x Bites and Asia Green Fund were among others joining the Series B fundraiser, the Shanghai-based company said in a statement yesterday.
The proceeds will be used to speed up commercialization of its Viridimin brand of animal-feed additives, scale up the manufacturing capacity of the Aliphane series of bio-based materials, advance the firm’s product pipeline, and expand its global research and development capabilities, Mojia Biotech added.
“Sustainable ingredient manufacturing is a pillar for a thriving green economy,” said Joseph Zhou, managing partner of Bits x Bites. “And with the recent delays and shortages in the global supply chain highlighting the importance of reducing reliance on raw material imports, we see huge potential for Mojia Biotech to apply its technology across different chemical ingredients, and to become a leader for the next-generation green chemical production.”
The Viridimin series of vitamin B5 products is expected to go into mass production this month. Compared with traditional production processes, those for Viridimin products use biological manufacturing technologies to save energy and cut emissions, Mojia Biotech pointed out.
The Aliphane series of biopolymer products, the firm’s second to be commercialized, is highly versatile and has great potential in coating and adhesive applications, the company said.
Editor: Futura Costaglione