Netherlands-based Phycom, a microalgae ingredient producer, has secured €1.75M from ROM Utrecht Region, along with a private investor.
This round follows the Dutch company’s recent Series A investment, bringing the total funding to over €10.5M in six months.
Microalgae as a solution
According to Phycom, amid concerns about arable land use, the food industry has turned to sustainable protein sources.
Founded in 2008, Phycom’s breakthrough in microalgae production offers both sustainability gains and health benefits, marking an advancement in the quest for more eco-friendly and nutritious food options.
Juri van Dolderen, Senior Investment Manager at ROM Utrecht Region, says, “ROM Utrecht Region invests in companies that make the world of tomorrow a better place. Phycom and its microalgae are a perfect fit, as microalgae are a critical element in the protein transition.”
“Phycom can be a game-changer for the industry and can significantly reduce the food industry’s enormous footprint. ROM Utrecht Region is proud to contribute to this important development.”
Marco Verloop, alderman of municipality Veenendaal, adds, “In our environmental strategy we strive for a healthy, sustainable and safe Veenendaal. We are also continuously working on improving our location policy, business climate and employer services.”
Capital utilisation
Over the last four years, the company has constructed two production facilities in Veenendaal, showcasing the technology and scalability of microalgae production.
With products already in the market, the additional capital infusion will further optimise technology and scale up microalgae production and sales, advancing Phycom’s mission.
Phycom’s CFO, Willem Kuijsten, says, “This additional funding of ROM Utrecht Region boosts our confidence even more in the potential of our company and our algae products. It paves the way to strengthen our proposition, growth of the organisation and go-to-market strategy even further.”
