Rainbow Seed Fund invests in Synthace
British bioengineering firm Synthace has closed a £2.2M funding round with new investors including the Rainbow Seed Fund, a venture capital fund supported by BBSRC and the Department of Business, Innovation and Skills (BIS).
Synthace develops and applies bioengineering tools and working practices, working with industry leaders to accelerate the introduction of bio-based products into the marketplace.
The firm has a growing collection of integrated technologies – including the Antha language for biology, driving an automated laboratory environment – for engineering biological systems.
The new financing will be used to expand automation and to further develop and disseminate its Antha language.
The Rainbow Seed Fund is a £24M, early-stage venture capital fund dedicated to kick-starting promising technology companies developed at some of the UK's largest publicly-funded research facilities, in the rapidly expanding science and technology campuses linked to them and in the field of synthetic biology.
Dr Celia Caulcott, BBSRC Executive Director, Innovation and Skills, said: "The UK is a world leader in the biosciences with some of the best researchers in the world doing exciting work with the potential to change our world and bring economic and social benefits.
"Often a crucial stage to achieve their potential is to bring discoveries out of the lab and into the marketplace, which is exactly why the Rainbow Seed Fund, supported by BBSRC, invests in promising technology start-ups at publically funded research facilities.
"I am delighted that the Rainbow Seed Fund has identified Synthace as an early opportunity for investment from the SynBio Rainbow fund, established as part of the government strategy to support the acceleration of synthetic biology towards exciting applications."
Tim Fell, Synthace CEO, said: "As growth in the global bioeconomy starts to rocket, Synthace offers its blue-chip partners the reproducibility, robustness and productivity necessary to compete in the 21st Century's biggest revolution."
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