Industrial Microbes (iMicrobes), a biomanufacturing firm dedicated to promoting sustainable materials, has announced the successful completion of its seed round funding, raising over $10 million. This financing round was primarily led by First Bight Ventures, with additional support from Universal Materials Incubator Co. (UMI).
The new funds will allow iMicrobes to advance its microbial engineering capabilities and expedite the purification of its initial commercial products. The investment is intended to enhance the company’s proprietary bioprocesses, which convert renewable resources like ethanol and methane into high-performance biobased chemicals.
Veronica Breckenridge, Founder of First Bight Ventures, stated that iMicrobes is well-positioned to meet the growing market demand for sustainable materials. “Their innovative approach to developing cost-effective, net-zero solutions is driving a significant shift in sustainable chemistry,” she noted.
Yosuke Yamamoto, Partner at UMI, highlighted the collaborative nature of iMicrobes’ work, which aligns the biotechnological advancements with market needs in the chemical and materials sectors. He emphasized that the company’s initiative sets a standard for sustainable alternatives to fossil fuel-derived materials.
To support its growth, iMicrobes plans to enhance its fermentation processes, producing over 10 kg of product per run in its pilot bioreactor, with a focus on the commercialization of bio-based acrylic acid. Traditionally sourced from petrochemicals, acrylic acid is essential in numerous products, including paints and personal care items.
iMicrobes has established methods to produce biobased acrylic using methane and ethanol, transforming waste into valuable materials. By leveraging ethanol, a common biofuel, the company aims to reinforce domestic supply chains and enhance sustainable production capabilities.
Additionally, iMicrobes has received support for its “Sustainable Carbon Fiber Made from Waste” initiative, which seeks to convert ethanol and carbon dioxide into biobased carbon fiber, further solidifying the company’s commitment to sustainable manufacturing practices.