String Bio raises $20 million in Series B funding

11 Jul 2022 , 11:19 AM

On July 11, String Bio reported that it has closed the first close of its Series B investment, raising $20 million from investors including Woodside, Ankur Capital, Dare Ventures, Redstart, and Zenfold Ventures.

Additionally, the startup and Woodside Energy Technologies, a wholly-owned subsidiary of the multinational energy giant Woodside Energy Group, have engaged in a strategic development agreement (Woodside).

To transform the energy in methane into a variety of value-added products, String Bio has developed a technology platform that makes use of advancements in biology, fermentation technology, chemistry, and process engineering. These goods include new crop inputs, products for biodegradable polymers, and protein-based food additives.

“The goal of String has been to use cutting-edge biotechnological developments to enable better life with a considerably smaller environmental impact. To bring such solutions to market–solutions that are better for people and the environment–we are moving forward significantly with the Woodside cooperation and Series B financing, according to Dr. Ezhil Subbian, String Bio’s co-founder and CEO, in a statement to MoneyControl