Funding support

Food tech firm Green Bioactives raises £2.6m

David McElroy, CEO; Gary Loake; founder and chief science officer; with Andrew Durkie of Eos

Green Bioactives, an Edinburgh-based company involved in food production technology, has raised £2.6 million in a seed financing round.

The funding round was led by Eos Advisory and included investments from London-based Regenerate Ventures’ Agtech Fund, London and Singapore co-headquartered Milltrust International Group, and Scottish Enterprise, which also provided the company with advisory support.

The financing will enable the company to grow its management, production and research team capabilities, allowing the company to demonstrate its biomanufacturing approach at larger scale. 

The company, based at the Roslin Innovation Centre, is currently working with several world-leading partners in food and drink, pharmaceuticals and agriculture.

Andrew Durkie, partner at Eos, will join the Green Bioactives board.

David McElroy, CEO of Green Bioactives, commented: “This £2.6m seed funding is an incredibly exciting milestone for Green Bioactives, and we’re delighted to have attracted such a strong international investor base – demonstrating the global commercial potential of our plant cell culture-based biomanufacturing platform.

“The investment comes at a key time for the company, as we prepare for further growth and continue to develop our technology, working towards our goal of becoming the world’s leading supplier of safe, natural and sustainably-sourced plant-derived products.”

Andrew Durkie, partner at Eos, added: “Green Bioactives has demonstrated significant progress on its platform since its formation, and we’re excited to be helping the company develop further as part of this seed round.”

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