Chinese Ventures Capital funds Supports Turkish Startup Microalgaex with a $47 Million Funding Round

Turkish coin in Jar with the turkey flag in the background

Happiness Capital, the investment division of LKK Health Products Group, in partnership with two other venture capitalists, has committed to financing the establishment of a sustainable facility in China. This strategic investment, totaling $47 million, supports the Turkish biotech startup Microalgaex and is geared towards expanding its innovative Liquid Tree product line into the Chinese market by mid-2025. This move is part of a broader initiative to combat global climate change and improve air quality both indoors and in urban settings.

The Series B funding round not only drew contributions from several Chinese technological ventures but also established the valuation of Microalgaex at $250 million. The substantial investment will aid Microalgaex in extending its product range of Liquid Trees, which are innovative systems based on phytoplanktonand cyanobacteria. These systems are designed to enhance air quality through solutions suitable for both indoor and outdoor applications, employing a patented photobioreactor known for its efficiency in carbon capture and storage. The primary aim of these efforts is to foster a sustainable, healthy, and accessible environment within China’s pollution affected urban centers. Giuliano Regonesi, founder of Microalgaex, expressed that the new influx of capital would enable the startup to significantly increase its production capabilities, aiming to manufacture 60,000 Liquid Tree units annually at the new facility. He anticipates that this enhanced production capacity will help drive the company towards profitability within the next financial year.

Since its inception, Microalgaex has positioned itself as a leader in environmental  innovation with its signature Liquid Tree technology. This proprietary technology, based on microalgae, functions to remove carbon dioxide and other greenhouse gases from the atmosphere while simultaneously releasing oxygen. This process substantially improves air quality, particularly in enclosed spaces such as offices, schools, gyms, and public areas. Supported by comprehensive scientific research, the Liquid Tree technology not only reduces the risk of inflammation but is also shown to significantly decrease the likelihood of developing dementia and cardiological issues. These benefits have been substantiated by Gokcen Ustundag, the COO of Microalgaex, who also highlighted the company’s partnerships with Tubitak, Turkey’s scientific and technological research council, and leading Turkish universities.

This funding round marks the first instance of equity capital raised by Microalgaex, with a specific focus on penetrating the Chinese market. Furthermore, the company is actively pursuing opportunities to expand into other significant markets, including those in Europe, the GCC (Gulf Cooperation Council), and the Americas. These negotiations reflect Microalgaex’s ambitious plan to globalize its eco-friendly technologies, aiming to make a substantial impact on environmental sustainability and public health across the globe.

By leveraging this latest funding, Microalgaex plans to scale its operations and reinforce its market presence in strategic regions, thereby contributing to global efforts in environmental conservation and health improvement. This venture not only represents a significant step forward for Microalgaex but also highlights the growing trend of investment in green technologies that address urgent global challenges.

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