Bio-tech startup Cellivate Technologies has successfully raised $1 million in a seed round. This funding round was led by Antler with participation from Venture Catalysts, Hatcher+, and We Founder Circle.
Funding Utilization
Cellivate plans to use the funds to:
- Accelerate research and development efforts
- Scale up production of innovative products
- Expand market reach
About Cellivate Technologies
Founded by Viknish Krishnan Kutty, Cellivate Technologies focuses on developing innovative solutions for cell culture and biomanufacturing. The company’s flagship products include:
- Advanced Microcarriers: For scaling up cell growth
- Novel Cell-Based Serum: Designed to replace fetal bovine serum
Market Potential
The cell culture market, particularly in microcarriers and serum, is projected to reach $33 billion by 2030. Cellivate’s products aim to:
- Reduce costs
- Increase efficiency
- Address ethical concerns in cell culture processes
Impact on Industry
Cellivate’s advancements in cell culture and biomanufacturing technologies are expected to reduce dependence on animal-derived products. This shift can potentially lead to more ethical and sustainable practices in the industry.
Key Highlights
- Funding: $1 million seed round
- Lead Investor: Antler
- Participants: Venture Catalysts, Hatcher+, We Founder Circle
- Product Focus: Microcarriers, cell-based serum alternatives
- Market Potential: $33 billion by 2030
This investment marks a significant step for Cellivate Technologies in its mission to revolutionize cell culture and biomanufacturing processes.