Stellenbosch-based biotechnology startup Immobazyme has successfully closed its latest funding round, bringing its total investment to R24.5-million. The new injection of capital will enable the company to double the size of its facility and scale up production capabilities, positioning itself at the forefront of South Africa’s biotechnology industry.
Founded in 2019, Immobazyme has experienced year-on-year growth, culminating in the opening of its state-of-the-art independent laboratory last year. This infrastructure milestone, supported by the doubling of its research team, has advanced the company’s goal of providing sustainable and affordable biologics to the global market.
Immobazyme specialises in a novel enzyme immobilisation platform and precision fermentation, manipulating microorganisms to cultivate high-value proteins and enzymes. Its products range from growth factors, a primary ingredient in cell-cultured meat, to enzymes like dextranase, which is used to break down contaminants in sugar.
Recently, the Immobazyme team ventured into the food and beverage industry with a variety of novel food ingredients created using their precision fermentation platform.
The latest funding round was led by the University Technology Fund (UTF) and University of Stellenbosch Enterprises (USE).
“Immobazyme personifies our vision to innovate for purpose and planet. UTF actively identifies global game-changing companies to invest in. The company’s enzyme immobilisation platform is unique to the biotechnology industry, and we support their ambitions for sustainable solutions,” said UTF primary investor Wayne Stocks.
“The investment in Immobazyme is another great case study demonstrating that local university technology is an overlooked but very promising asset class. Immobazyme’s success is also a great example of the fast growth in the Stellenbosch University group of companies, which currently boasts nearly 30 spinout companies,” said Stellenbosch University innovation and commercialisation director and USE CEO Anita Nel.
“We are incredibly grateful to all our investors and partners for recognising the value and impact of our work. We are poised to tackle real-world challenges, delivering economic, social, and environmental benefits to the private sector through our technology,” said Immobazyme CEO and co-founder Dominic Nicholas.
“With this funding, we can now set our sights on bigger, more ambitious goals. Our immediate focus is on scaling our facility to introduce our products to the global market,” he added.