Microphyt raises €28.5 million to develop its portfolio of microalgae-based natural solutions for nutrition and well-being
Microphyt, a leading company in microalgae-based natural solutions for nutrition and well-being, announced a fundraising of €28.5 million (US$32 million). Co-led by Sofinnova Partners and Bpifrance, through the “Sociétés de Projets Industriels” fund (“SPI fund”), this investment is one of the largest fundraising in the microalgae sector.
As an existing investor, Demeter welcomes Microphyt’s ramp-up and renews its confidence in the company by participating in this new round.
The funds will allow Microphyt to accelerate the development of the product portfolio and expand sales network globally, develop its proprietary microalgae culture technology as well as to increase production capacity of Microphyt’s industrial platform.
More information on the press release: Press Release