Chaincraft raises €11mln to produce biochemicals from waste
Venture Challenge alumnus ChainCraft, active in the production of sustainable biobased chemicals, has closed a EUR 11 million financing round. As a result, they have secured the necessary capital to build a high-quality full-scale factory.
ChainCraft produces biobased chemicals from food waste through a technology of innovative fermentation, as an alternative to fossil and palm oil derived chemicals. For this round, lead investor Convent Capital has joined the existing investors SHIFT Invest, Horizon 3 and PDENH. ChainCraft will use the proceeds from this round to lay the foundations for an industrial-scale factory and to further accelerate growth plans in the existing demo factory in Amsterdam.