evocatal draws two new investors as it closes €3.5m Series B round

08-Jul-2013 - Germany

evocatal GmbH has completed a Series B financing round. All of the company's existing investors took part, along with new investors NRW.BANK and LANXESS.

In realizing the next step of its growth strategy, evocatal has partnered with two new investors: LANXESS and NRW.BANK. The investments from this round of financing will be used to extend the firm’s technology platform as well as its product portfolio. “We will significantly expand our team,” says evocatal CEO Dr. Thorsten Eggert, “and we will also increase our capacities and extend our product portfolio to cover the increasing demand for our products.”

“As the financing round is being wrapped up, we will also be kicking off our Innovation Alliance for the Development of Biocatalysts for the Functionalisation of Polymers (FuPol),” adds Dr. Christian Leggewie, CSO at evocatal. The company is coordinating that major project, which is sponsored by Germany’s Federal Ministry of Education and Research (BMBF). “In the course of this project,” says Leggewie, “evocatal will additionally receive up to €1.4m over the next five years to develop innovative, enzyme-based solutions in the area of polymer modification.”

https://www.chemeurope.com/en/news/143900/evocatal-draws-two-new-investors-as-it-closes-3-5m-series-b-round.html