Today: May 16, 2024
January 14, 2024
1 min read

Powering Bioworks: Purpose Venture Capital Fuels Collaborative Investment

TLDR: Bioworks, a new material creation company, has secured funding in a third-party share allotment from international venture capital firms Purpose Venture Capital and Lavender Hill Capital, among others.

– Bioworks has raised a cumulative total of US$17.3M or 2.5 billion yen.

– The funds will be used to strengthen Bioworks’ R&D and human resources, expand its product portfolio, enter new markets, and expand its business domestically and internationally.

Key highlights:

– Bioworks is a company focused on creating sustainable solutions through research and development of new materials. It aims to foster a harmonious future where both the planet and humanity thrive in good health.

– The funding from Purpose Venture Capital and Lavender Hill Capital will contribute to the promotion of ESG investment in the Asia-Pacific region and expand Bioworks’ distribution channels from Japan to overseas markets.

– Bioworks will also partner with Yagi & Co, a textile trading company, to further expand the reach of its new carbon-neutral material, PlaX™, to a broader market.

– PlaX™ is a new carbon-neutral material made from polylactic acid (PLA) and plant-derived additives. It is biodegradable and has the potential to replace petroleum-derived synthetic fibers like polyester.

– The material has several environmental benefits, including reduced CO2 emissions during production, compatibility with chemical recycling, and reduced emissions during incineration and disposal.

– Purpose Venture Capital is a Singapore-based venture capital firm that supports early-stage sustainable tech companies. Lavender Hill Capital is an international venture capital firm based in Hong Kong that focuses on investing in growth stage technology companies globally.

Previous Story

Attract Venture Capital to Specialty Coffee Startups with Enhanced Margins

Next Story

Unveiling the Silenced Strategy of DEI Foes Targeting VC Funds

Latest from Blog

Go toTop