Holiferm Limited, a spin-out from the University of Manchester that manufactures sustainable biosurfactants has recently closed its Series B funding round.
This has seen further funds invested by Rhapsody Venture Partners, a leading Boston-based deeptech VC and Clean Growth Fund, a leading UK cleantech VC, both previous Series A investors.
The funds raised will allow the company to forge ahead with its scale-up plans for its commercial plant. Holiferm’s Wallasey plant has a current capacity of 1.1 KTA.
With this new investment, new fermenters will be installed in the plant, increasing capacity to 3.5 KTA around the end of 2024, then further scaling up to 15 KTA capacity. This will enable full market launches by major multinational customers.
The funding will also significantly accelerate the works taking place at the firm’s bespoke research and development facility in Manchester. It will allow the firm to move forward with refining manufacturing methods for other biosurfactants and pushing these forward through pilot testing and commercial launch in 2024.
The investment means Holiferm can also continue its ambitious hiring strategy to ensure the company attracts the best candidates from the UK and around the world. This hiring strategy will see the company more than double in size from the current forty-nine people to well over a hundred employees.
Ben Dolman, CEO of Holiferm said, “This latest funding round highlights the scale of the opportunity with Holiferm’s technology, making the manufacture of chemicals cleaner and greener through the elimination of petrochemicals which is vital for not just the chemical industry, but the World as a whole.
“Both Rhapsody Venture Partners and Clean Growth Fund have proven exceptionally collaborative and supportive partners, and we are delighted that they are continuing with us on this journey and look forward to working together to transform the chemical industry.”