Kuehnle AgroSystems (KAS), a Honolulu, HI-based microalgal innovation and production company, raised $3M in funding.
The round was led by S2G Ventures. Existing backers included Aqua-Spark, Hatch and Cavallo Ventures.
The company intends to use the funds to accelerate the commercialization of its method for producing natural astaxanthin from microalgae.
Led by CEO Claude Kaplan, Kuehnle AgroSystems is a microalgae development company that uses its library of Hawaiian microalgal strains to research, develop and produce specialty chemicals and raw materials. Its customers include multinational corporations along with valued regional companies and brands that require sustainable plant-based ingredients for animal feeds, human health, food, and personal care.
Commenting on the news, Claude Kaplan said: “With our ability to generate greater astaxanthin output volumes, quicker and at a reduced cost compared to light-dependent methods, this funding strongly positions KAS to respond to the rapidly expanding needs of the market.”
FinSMEs
19/03/2024