Impossible Materials raises CHF 3,4 Million
The round, which was led by Mission Possible Capital, was supported by Big Idea Ventures and several other VC investors, along with Swiss angel investors. It will be used to construct a pilot facility in Marly, Switzerland, expand the team, and work on market entry in food, cosmetics, and pharmaceuticals.
A spin-out from the University of Cambridge and University of Fribourg incorporated in Switzerland in 2022, Impossible Materials has “received unsolicited inbound interest [in its TiO2 alternative] from over 80 companies across various sectors,” cofounder and CEO Lukas Schertel.
“We have ongoing partnerships in the food and food-related sectors. Initial testing of our material compared to TiO2 alternatives has shown that we can outperform them, and we forecast to be cost-competitive.”
Read more: https://bioalps.org/impossible-materials-raised-chf-34-million/