Algenie is a technology company.
Algenie has raised $730K across 1 funding round.
Algenie has raised $730K in total across 1 funding round.
Algenie has raised $730K in total across 1 funding round.
Algenie's investors include AppWorks, SOSV, Guillaume Luccisano.
Algenie is a Sydney-based algae biotech startup founded in 2023 that develops scalable algae production technology to replace fossil fuels with sustainable bioproducts like plastics, biofuels, food, textiles, and aquaculture feed.[1][2][4] Its core product is a proprietary helix-shaped photobioreactor paired with AI-driven strain optimization, enabling cost-effective, high-yield algae cultivation that converts CO₂ into valuable raw materials while enabling gigatonne-scale carbon removal.[1][3][5] Serving industries facing environmental pressures, Algenie solves the longstanding challenge of economically scaling algae production, which has historically been inefficient due to poor light exposure and high costs in traditional systems.[1][4][5] The company has raised $1.1 million in seed funding from UTS, Better Bite Ventures, and others, emerging from stealth with a prototype at UTS and plans for global licensing.[2][4][5]
Algenie was founded in 2023 by serial entrepreneur Nick Hazell (CEO, former co-founder and CEO of plant-based protein company v2food), Mathieu Pernice, and John Martin (DeepTech R&D expert with Stanford background in MedTech and algae cultivation).[2][3][4] The idea emerged from research at the University of Technology Sydney's (UTS) Climate Change Cluster, led by Professors Peter Ralph and Long Nghiem, which identified bottlenecks in algae productivity and inspired Algenie's helix photobioreactor design.[4][6] Early traction came via UTS collaboration for strain optimization using biological resources and automation, culminating in a $1.1 million seed round shortly after launch and a working prototype in UTS facilities.[2][4][5][6] Hazell describes the technology as a "true breakthrough," building on his experience scaling sustainable food tech to unlock algae's full biological potential.[2][3]
Algenie rides the climate tech and sustainable biomanufacturing wave, capitalizing on global decarbonization demands amid fossil fuel phase-outs and rising CO₂ regulations.[1][3][6] Timing is ideal with cheap renewables enabling controlled bioreactors, UTS research accelerating strain tech, and investor interest in gigatonne carbon removal solutions.[2][4][5][6] Market forces like EU/US bioplastics mandates and biofuel incentives favor it, positioning algae as a versatile carbon sink superior to crops (no arable land needed).[1][4] By licensing, Algenie influences the ecosystem like CRISPR did for biotech—democratizing access to lower costs, spurring industry adoption, and disrupting $trillions in fossil-dependent sectors.[5]
Algenie is poised to scale via licensing deals and co-investments in large facilities, targeting commercial pilots in 2026 and global rollout by 2028.[4][5] Trends like AI biotech optimization, modular bioreactors, and carbon markets will amplify growth, potentially valuing it at unicorn status if $1/kg is hit.[5] Its influence could evolve from pioneer to platform enabler, powering a "sustainable economy" by making algae competitive across industries—echoing its founding promise to unlock nature's full potential against fossil fuels.[1][3]
Algenie has raised $730K across 1 funding round. Most recently, it raised $730K Seed in September 2024.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Sep 1, 2024 | $730K Seed | AppWorks, SOSV, Guillaume Luccisano |