Algal Scientific Raises $3 million | Chemical & Engineering News
Volume 92 Issue 18 | pp. 14-15 | Concentrates
Issue Date: May 5, 2014

Algal Scientific Raises $3 million

Department: Business
Keywords: algae, food ingredients, animal feed
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A technician at work in Algal’s Northville, Mich., facility.
Credit: Algal Scientific
Photo of Algal Scientific’s facility in Northville, Mich.
 
A technician at work in Algal’s Northville, Mich., facility.
Credit: Algal Scientific

Biotech start-up Algal Scientific has raised $3 million in a financing round led by Evonik Ventures, Formation8 Partners, and Independence Equity. The firm says the funds will allow it to begin commercial-scale production of its algae-derived β-1,3 glucan for use in animal feed, aquaculture, and human nutrition. The polysaccharide, normally made from yeast, is said to have immune-system-supporting benefits. The algae-derived version can be produced at lower cost and is of higher quality, Algal says.

 
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ISSN 0009-2347
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