Osborne Clarke advises BIOWEG on Series A financing round of EUR 16 million

Osborne Clarke has advised the German biotech company BIOWEG on its Series A financing round totalling EUR 16 million. The round was led by the Axeleo Capital (AXC) Green Tech Industry Fund; additional investors include the EIC Parallel Fund LP, NBank Capital and BONVENTURE, as well as seed investor Dr.-Ing. Frank Jenner.

BIOWEG develops bio-based, biodegradable alternatives to fossil-based microplastic polymers based on fermented side streams from the food industry: bacterial cellulose is refined into functional ingredients using green chemistry. BIOWEG currently operates a pilot plant in Quakenbrück (up to six tonnes) and a materials and applications laboratory in Monheim.

The company has now successfully completed a Series A financing round of EUR 16 million. BIOWEG intends to use the capital to advance the construction of an industrial bacterial cellulose plant in Germany and accelerate market entry in Europe.

“BIOWEG is an excellent example of sustainable deep tech solutions ‘Made in Germany’. Helping such future-oriented companies succeed is at the core of our work,” said Robin Eyben, Partner at Osborne Clarke Germany.

The Osborne Clarke team that advised BIOWEG, led by Robin Eyben, comprised Vanessa Petre Linbenciuc and Giovanni Alexandrov (all Venture Capital).