The US-based industrial biotechnology company backed by BP Alternative Energy Ventures and DSM Venturing raise more funds.
Verdezyne, backed by corporate venturing units of oil major BP and Netherlands-based science-focused company DSM, has raised $10.5m in convertible debt, according to a filing with the Securities and Exchange Commission.
BP Alternative Energy Ventures, part of oil major BP’s renewable energy sources division, and DSM Venturing, which has Netherlands-based industrial group DSM as parent, invested an undisclosed sum in Verdezyne last year.
They joined a consortium including venture capital firms OVP Venture Partners and Monitor Ventures and angel networks…
