Hamburg-based biotech startup Lignopure, which creates biodegradable biopolymers from non-food sources featuring non-cytotoxic, has raised €2.4 million in a funding round led by NBank Capital, with participation from Niedersachsen Beteiligungs GmbH & Co., business angels, a family office, and existing shareholders.
- Founded in 2019 by Joana Gil Chavez, Wienke Reynolds, and Daniela Arango Ospina, Lignopure uses lignin as a bio-based raw material and an alternative to fossil chemicals. The company collaborates with biorefineries and utilizes lignin in cosmetics, dietary supplements, and vegan leather production.
- Lignopure develops "LignoBase," a product that replaces harmful ingredients in sunscreens while maintaining the same level of protection.
- In 2021, Lignopure secured €2.2 million from High-Tech Gründerfonds (HTGF), Innovationsstarter Fonds Hamburg GmbH (IFH), and Swiss holding Tanovis AG. This investment has enabled the startup to advance its lignin transformation technology.
Details of the deal
- The funding round was led by NBank Capital, a Hannover-based venture capital firm that invests in startups across various sectors, including mechanical engineering, e-commerce, artificial intelligence, life sciences, environmental, and energy. The firm has invested in 78 startups and has achieved 9 exits, including notable companies such as PlantBase, SmapOne, and Verlingo.
"Lignopure is a young company that has inspired and impressed us with its technology and the spirit of its founders. The founders manage to inspire customers and investors with their professionalism and strategic orientation. We are very much looking forward to a good and successful collaboration! In line with our portfolio strategy, we want to actively support the transformation away from fossil ingredients and microplastics towards bio-based raw materials," Responsible investment manager at NBank Capital, Viktoria Vorwachs, commented.
- Other investors participating in the round include Niedersachsen Beteiligungs GmbH & Co. KG, a fund of NiedersachsenMetall, Hamburg-based RaakWaark Kaptaal, a business angel community that supports tech startups, a family office, and existing shareholders.
- The capital raised will enable Lignopure to strengthen its global presence, facilitate international production collaboration with biorefineries, and expand its product portfolio, advancing decarbonization and promoting lignin as an alternative to harmful ingredients.
