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Kelpi raises GBP 4.3 million in venture funding to scale operations
Bio-based Materials
May 31, 2024
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Bio-based Materials

Bio-based Materials

View industry hub
May 31, 2024

Kelpi raises GBP 4.3 million in venture funding to scale operations

Funding

  • Kelpi, a UK-based biotech startup, has raised GBP 4.3 million (~USD 5.5 million) in a funding round led by Blackfinch Ventures, with participation from Green Angel Ventures, Kadmos Capital, QantX, Evenlode Foundation, South West Investment Fund, Bristol Private Equity Club (BPEC), and One Planet Capital, alongside additional angel investors.

  • The funds will scale up Kelpi’s team and operations, facilitate large-scale pilot projects, and secure essential regulatory approvals. The company reports it aims to launch its innovative seaweed-based packaging by mid-2025 commercially.

  • Analyst QuickTake: Kelpi raised ~USD 3.6 million to scale up the development of its bioplastic in February 2023 . The company has also entered strategic partnerships with L’Oréal, Diageo, and Waitrose, revealing the potential of the company’s solution.

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