Danish industrial biotechnology startup Cellugy raises €4,9M to replace petrochemicals in personal care products
Cellugy’s first-of-its-kind fermentation platform produces high-performing dry cellulose, which replaces fossil-based petrochemical ingredients in personal care products.Søborg, Denmark (May 21st, 2024): Cellugy , a Danish industrial biotechnology startup developing innovative, natural, biofabricated cellulose-based solutions to replace fossil-based materials in various industrial applications, has raised €4,9M in seed funding to scale up production of its EcoFLEXY dry cellulose product to industrial volumes. The round was led by Germany’s ICIG Ventures