Heaptalk, Jakarta — Singapore’s startup in enzyme discovery and engineering, Allozymes, has completed Series A funding worth US$15 million led by Seventure Partners of France and Xora Innovation of Singapore. Several investors also back the round, including NUS Technology Holdings and Thia Ventures as new investors. While SOSV and Entrepreneur First also participate in the investment as the startup’s existing investors.
The achievement of Allozymes’ new investment will enable the team to expand to the European market and amplify affiliation in the food and chemical partnerships in the pharmaceutical industry.
According to Peyman Salehian, CEO and Co-Founder of Allozymes, this investment is a testament to the startup’s progress in developing a truly unique and powerful enzyme engineering platform. For this reason, Salehian aims to unlock the extensive potential for a more sustainable and efficient future.
Allozymes’ core technology lies in its proprietary microfluidic platform, which boasts the industry’s fastest enzyme screening capability, analyzing over 20 million variants daily. This process gives Allozymes a 200x higher chance of success in advancing custom enzymes with precise properties for specific industrial applications.
Beyond ultra-high-throughout screening, the startup differentiates itself through its advanced enzyme sorting and detection capabilities. This scheme allows the company to identify promising enzyme candidates and precisely match them to specific industrial needs, addressing a critical bottleneck in traditional enzyme discovery methods.
Other areas the US$15 million will be deployed in its vertical development of biosolutions for partners in life science industry, enabling innovative products like sugar alternatives, sustainable production of high-value ingredients, bioremediation, and biosecurity.
The new funds will further empower Allozymes’ development of the industry’s most comprehensive enzyme data library. The startup will also build in-house strain engineering, bioprocess, and downstream processing capabilities to enable end-to-end development of new enzymes and strains. Powerful AI/ML algorithms will leverage this data to enable the prediction and generation of novel, robust biocatalytic solutions for various industries.
“Our platform represents a significant move forward in democratizing access to powerful enzymatic solutions. By providing a centralized platform for enzyme discovery and engineering we aim to empower researchers and companies of all sizes to harness the potential of enzymes and accelerate innovation across various industries,” CTO of Allozymes, Akbar Vahidi, said.
