Danish synthetic biology startup, Octarine Bio has successfully secured a € 4.35 million funding round, with Unconventional Ventures leading the charge. Notable participation came from investors like Óskare Capital, The Footprint Firm, and dsm-firmenich Venturing. This fresh injection will be allocated for accelerating and expanding Octarine’s offerings, particularly in their mission to revolutionise the fashion industry with sustainable, natural dyes.
Highlighting the environmental toll of textile dyes, which contribute to 2.4 per cent of global greenhouse gas emissions, 20 per cent of the world’s wastewater, and 35 per cent of all released chemicals, Octarine Bio has introduced a sustainable dyeing solution known as OB-CLR. This technology harnesses precision microbial fermentation to craft dyes, marking a pioneering approach within the industry.
Thea Messel, Co-founder and General Partner at Unconventional Ventures, lauded Octarine Bio’s potential and outlined their motivation for backing the company. Messel emphasised the urgency for the textile industry to transition towards aggressive decarbonisation efforts in order to mitigate greenhouse gas emissions, water pollution, and climate change. Octarine’s ground-breaking technology plays a pivotal role in this transformation, steering the industry towards sustainable practices and away from synthetic dyes.
Nethaji Gallage, CEO and co-founder of Octarine, emphasised the company’s commitment to sustainability in the fashion sector. He articulated their vision for a more sustainable future where innovative, game-changing, and eco-friendly solutions address pressing environmental and social challenges.
This latest funding round not only pushes Octarine Bio’s total capital raised to over € 12 million but also positions the company as a leader in the realm of nature-based dyes. Additionally, it serves as a catalyst in driving the fashion industry towards becoming more sustainable and environmentally conscious.
