JeNaCell, a Jena, Germany-based biotech company, raised a Series A financing of undisclosed amount.
Backers included Evonik Industries, bm-t beteiligungsmanagement thüringen GmbH and Sparkasse Jena as well as existing investors High-Tech Gruenderfonds and the Foundation for Technology, Innovation and Research of Thuringia.
The company intends to use the funds for the expansion of its production capacity and the extension of its distribution network.
Led by Dr. Nadine Hessler and Dr. Dana Kralisch, JeNaCell specializes in the development and manufacture of biotechnologically produced nanocellulose. The company, which was spun off from the Friedrich Schiller University in 2012, uses a continuous production processes for manufacturing a bio-material that is suitable for use in innovative and future-oriented applications in the fields of medicine and cosmetics – for example in the form of an interactive wound dressing or moisturizing face mask – as well as in the area of technology and pharmaceutical products.
12/10/2012: JeNaCell Raises €700K in Seed Funding