FabricNano, a British biotech startup backed by Biz Stone and Emma Watson, has successfully completed a Series A round raising $12.5 million.
The funding round was led by Atomico, a European venture capital firm, and counted with the participation of other investors like Backed, Hoxton Ventures, and Entrepreneur First. Atomico has over $4 billion in assets under management, having partnered with more than 100 teams in the technology sector.
Several high-profile angels also funded the startup, including Biz Stone (Twitter co-founder), Emma Watson (UN Sustainability Ambassador), Alexander Moscho (former CEO Bayer), and Vijay Pandurangan (former Twitter NY engineering site lead).
Siraj Khaliq, an Atomico partner who will be joining FabricNano’s board of directors, referred to the startup by stating:
“FabricNano has hugely impressed us with their breakthrough technology that reduces cell-free costs down to levels needed by the $4T (approx €3.3T) commodity chemical production market.”
FabricNano is a cell-free biomanufacturing company that is working towards replacing all fermented and petrochemical products with biomanufactured alternatives using DANA-based flow reactors.
The funding obtained through the series A funding round will be used by the startup to boost the development of its technology, increasing the availability of alternatives to petrochemical products. By doing so, the company will allow the creation of plastics using recycled materials instead of fossil fuels.
FabricNano’s CEO and co-founder, Grant Aarons, referred to the startup’s plans to disrupt the multi-trillion industry by stating:
“Our technology dramatically reduces the cost of cell-free biomanufacturing solutions by enabling efficient, sustainable production using enzymes – the biological catalysts that accelerate chemical reactions and facilitate the growth of natural materials. The process is both more scalable than current biomanufacturing processes and more sustainable than petrochemical-based production”.
The company’s potential to revolutionize the industry while also protecting the environment has been the reason for celebrities like Emma Watson, known for her role as Hermione in Harry Potter and roles as the United Nations Women Goodwill Ambassador, to fund the biotech startup since its seed round.