Protoga Bio raises US$13.8M to scale microalgae manufacturing

What's the deal? Protoga Bio has raised US$13.8M (roughly $14.8 million) in a Series A extension round funded solely by Guangdong Salt Industry GroupDealroom has a profile for this one. Try Dealroom →. The company says it is China's first CDMO focused specifically on commercialising microalgae.

What's the endgame? Protoga Bio aims to industrialise large-scale microalgae cultivation, building what it calls an internationally leading biotechnology platform paired with modular, flexible production. Its target markets span pharmaceuticals and health, skin care, agriculture and aquaculture, and food and nutrition.

Where's the money going? The funds will back a standardised manufacturing base for microalgal extracellular vesicles (MEVs). Protoga Bio will also use the capital to develop and commercialise microalgae-based sustainable protein solutions.

The signal: Backing from a state-linked investor points to growing industrial interest in microalgae as a source of sustainable proteins and bioactive materials — and to a bet that specialised CDMO services can move the sector from lab to scale.

Read more: ITJUZI

Photo: photobioreactor, IGV Biotech (CC BY-SA 3.0)