Update Date: Origin.Bio has since renamed itself Insempra.
Origin.Bio, a synthetic biology company that biologically replicates and improves substances produced by conventional chemical production processes to end dependence on traditional petrochemical producers, has secured €12.3 million (USD15 million) in investment capital. The financing round was led by EQT Ventures, with existing investor Blueyard Capital, as well as new investors Taavet Hinrikus and Sten Tamkivi, Acequia Capital, Inventures, and Charlie Songhurst, participating. Origin.Bio plans to use the new capital to expand its technologies and team.
The Munich-based startup aims to support the transition from production with raw materials extracted from the earth to the production of end products (such as consumer goods or branded items) with raw materials produced biologically. Origin.Bio is developing synthetic microorganisms that can produce the same materials as current chemical industry processes, but, according to the company, with lower energy consumption and less waste. The goal is to ultimately make petrochemicals obsolete.
From exploiter to part of a sustainable cycle
Jens Klein, Founder and CEO of Origin.Bio, explains:
"By looking to nature as a role model and partner, Origin.Bio can transform humans from exploiters and beneficiaries of the Earth to a sustainable part of a cycle that creates resources biologically, rather than simply extracting them from the Earth. Most of the products we use today are based on petrochemicals, such as plastics, pharmaceuticals, clothing, and cosmetics. The energy required and waste generated in their production are key drivers of the worsening climate crisis. Growing consumer environmental awareness must now be complemented by increased decarbonization efforts by the world's largest companies and beyond. Origin.Bio supports these companies through the biotechnological production of sustainable materials with a lower carbon footprint, thereby offering consumers worldwide the opportunity to actively live change and improve life on our planet. We are proud to have the support of EQT Ventures, and their investment encourages us to continue on this ambitious path."
“New era in the production of goods”
And Gregory Bernstein, investor and venture lead at EQT Ventures, says:
"We believe that a new era in the production of goods is imminent, one in which synthetic biology has the potential to renew humanity's relationship with nature and its limited resources. Jens Klein and the Origin.Bio team see themselves as pioneers of this paradigm shift. This bioeconomy market offers opportunities worth $4 trillion. Europe has the right political climate to develop a global champion: its technical universities are world-leading, and the conditions for startups are constantly improving. EQT Ventures fully supports Jens Klein and Origin.Bio in their endeavor to revolutionize the production of goods and raw materials for the benefit of the planet."
