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§ Private Profile · Århus, Midtjylland, Denmark
Biotech firm ferments bacteria to produce biofabricated cellulose materials, replacing fossil fuel-derived plastics and petrochemicals.
Founded in 2018 by Isabel Alvarez-Martos, Deby Fapyane, and Parun Sihombing, Cellugy is a biotechnology firm based in Søborg, Denmark, that ferments proprietary bacteria to produce biofabricated cellulose materials like EcoFLEXY. Designed to replace fossil fuel plastics and petrochemicals, the manufacturing process yields consistent, water soluble polysaccharides without requiring chemical treatments. These high purity, biodegradable alternatives are sold through a B2B model to brands seeking sustainable ingredients for textiles, packaging, paints, personal care, and cosmetics. To scale production and meet growing demand, the team of 13 employees secured a €4.9 million seed round in 2024, building upon a previous $9.25 million grant. This equity financing attracted capital from notable investors including ICIG Ventures, Unconventional Ventures, Joyance Partners, PSV DeepTech, The Footprint Firm, and EIFO, leading to the 2025 launch of their first EcoFLEXY product.
Cellugy has raised $17.6M across 3 funding rounds.
Cellugy has raised $17.6M in total across 3 funding rounds.
Cellugy has raised $17.6M across 3 funding rounds. Most recently, it raised $9.4M Grant in June 2025.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jun 24, 2025 | $9.4M Grant | European Union | — | Announced |
| May 23, 2024 | $5.3M Seed | Pelin Yilmaz, Thea Messel | EIFO, Joyance Partners, PreSeed Ventures, The Footprint Firm | Announced |
| Dec 30, 2020 | $2.9M Seed | European Innovation Council | — | Announced |
Cellugy has raised $17.6M in total across 3 funding rounds.
Cellugy's investors include European Union, Pelin Yilmaz, Thea Messel, EIFO, Joyance Partners, PreSeed Ventures, The Footprint Firm, European Innovation Council.