The funding was led by the The University Technology Fund (UTF) and University of Stellenbosch Enterprises.
Immobazyme leverages precision fermentation technology to develop high-value protein ingredients.
Their product range includes growth factors for the burgeoning cell-cultured meat industry, enzymes like dextranase for the sugar industry, and food ingredients for the food and beverage sector.
With this funding boost, Immobazyme plans to double the size of its production facility and expand its capacity.
This investment highlights the growing interest in alternative protein sources and the potential of precision fermentation technology.
Immobazyme’s expansion plans position them to play a significant role in these developing markets.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
The European Investment Bank (EIB Global) has pledged a $75 million investment in Helios Fund V, a private equity fund managed by Helios Investment Partners.
Renew Capital, a firm specializing in impact investments across Africa, has announced its debut investment in Ghana.
Digital Africa, a leading venture capital firm, has announced strategic investments in four innovative startups across Africa, demonstrating its commitment to empowering tech solutions tailored to the continent’s economic landscape.
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