Antler, Venture Catalysts, Hatcher+, and We Founder Circle led a seed round in which biotech startup Cellivate Technologies raised $1 million.
According to a press release from Cellivate, the money will be used to quicken its research and development efforts, increase the volume of its creative products produced, and broaden its customer base.
Cellivate, founded by Viknish Krishnan Kutty, is creating cutting-edge solutions to major problems in biomanufacturing and cell culture. The company’s flagship products include a novel cell-based serum intended to replace fetal bovine serum and sophisticated microcarriers for accelerating cell growth.
Based on market research, the cell culture market is anticipated to reach $33 billion by 2030, with a particular focus on microcarriers and serum.
According to Cellivate, their sophisticated microcarriers and cell-based serum substitutes could lower expenses, boost productivity, and solve moral dilemmas with cell culture procedures. Technological developments in cell culture and biomanufacturing will lessen society’s reliance on animal slaughter because cells can be used to produce a number of goods and ingredients that are traditionally derived from animals.
