Chinese industrial biotech startup Bota Bio has raised more than $100 million in a series B funding round, bringing its total financing to $145 million.
Founded in 2019 in Hangzhou, the firm specializes in using microorganisms and biological components to manufacture common household and industrial products, with a vision to make traditional manufacturing processes more sustainable.
Led by Sequoia Capital China, the round attracted investors including Matrix Partners China, Source Code Capital, Sherpa Healthcare Partners and 5Y Capital, Bota Bio said in a statement on Thursday.
The company said that it intends to use the fresh capital to expand its global operations and build a technology platform which will accelerate the deployment of its product pipeline involving consumer goods, food, nutrition and pharmaceutical products.
“We are empowering a diverse global client base from different industries to develop bio-based alternatives to traditional ingredients,” said Bota Bio CEO Cheryl Cui.
She added that her company’s solutions could help manufacturers achieve a transition to eco-friendly operations as governments worldwide undertake ambitious plans to go carbon neutral.
In March, Bota Bio received investment from German chemical producer BASF’s BASF Venture Capital.
Contact reporter Ding Yi (firstname.lastname@example.org) and editor Heather Mowbray (email@example.com)