Mojia Biotech Bags Over $80M in Round-B Financing
Mojia Biotech has recently completed round-B financing worth over $80 million, led by Temasek and followed by Santo Investment and LYZZ Capital. Its existing shareholders Asia Green Fund and Bits x Bites continued to increase their investment. Taihecap acted as the financial adviser.
The firm is committed to developing green bio-manufacturing methods to replace traditional chemical production technologies with high pollution and energy consumption. Based on its innovative platform of enzyme engineering transformation and biological metabolic transformation, the firm has completed the process development of several bulk products and has entered into production. For example, its Viridimin series of vitamin B5 products were mass-produced this month.
Compared with the current traditional process, the bio-manufacturing of Mojia Biotech can achieve energy conservation and emission reductions, and it can avoid shutdown problems that the industry often face because of environmental protection under the background of stricter policies in China, thus achieving stronger sustainable supply capability. The firm’s commercial field is Aliphane series bio-based polymer products, which are widely used in coatings and adhesives and have a huge market.
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Proceeds from this round of financing will be used for industrialization and commercialization of core bio-based products of Mojia Biotech, as well as new product pipelines and recruitment.
After a hundred years of rapid development, the traditional petrochemical industry has provided abundant petroleum-based products for human food, clothing, housing and transportation and various fields of industrial production. Although petroleum-based products have greatly improved people’s living standards, they have also led to serious environmental and social problems, such as greenhouse gas emissions and environmental pollution. In order to achieve sustainable development, it is urgent for the world to produce greener and safer chemicals and materials through renewable raw materials or production process reconstruction realized by synthetic biotechnology.
