Biotech startup DAB has doubled the pre-series A fundraise that it announced earlier this year. The funding allows a significant expansion of the laboratory facilities and scientific staff, and a substantial extension of the runway. This includes an ambitious demonstration programme for a range of different compounds, and an increased IP portfolio.
Invest-NL and Nemho
Both existing and new shareholders participate in the round. DAB is delighted to welcome Invest-NL and Nemho as investors. The extended shareholder base positions DAB very well for the series-A financing round that is foreseen in 2022.
DAB’s mission is to transform bio-manufacturing into a powerful and cost-effective tool that accelerates the replacement of finite, fossil-based compounds with renewable ones. The patented FAST technology reduces product costs with 20 to 50 percent.
DAB is working with a range of partners from diverse geographies to demonstrate the enhanced FAST production as a prelude to small-scale commercial manufacturing.