The Hamburg-based biotech startup Colipi has closed a seed financing round worth 1.8 million euros. The company develops climate-friendly oils that can be used in the cosmetics industry and other consumer goods sectors as well as alternative fuels.
The investors include High-Tech Gründerfonds (HTGF), Innovationsstarter Fonds Hamburg (IFH), Nidobirds Ventures GmbH and Stefan De Loecker. The capital will be used to expand the team, test the market together with products manufactured by partners and further develop the technology. In April 2023, the startup was already able to announce an increase in its EXIST research transfer funding of 2.9 million euros to a total of 4.1 million euros.
Colipi is developing an industrial biotechnological process that converts climate-damaging CO2 and carbon-containing industrial waste into climate-friendly alternatives to palm oil and crude oil, for example. A patented bioreactor system is used for this purpose, which is comparable to a brewery for oils. Microorganisms produce the versatile raw materials via fermentation. The solution has the potential to become the world's fastest and most cost-effective CO2-transforming bioprocess. Development of the technology began ten years ago. The startup has been EXIST-funded since 2021 and in 2022 Philipp Arbeiter, Tyll Utesch, Jonas Heuer and Maximilian Webers spun off Colipi GmbH from Hamburg University of Technology.
In October 2023, the company won the Future Hamburg Award, which honours forward-looking startups whose innovative business models and products have an impact on sustainability and quality of life and help to improve city life in the areas of greentech, mobility and logistics.
Watch our video portrait and learn more about how Colipi develops unique and CO2-neutral bioprocesses for the production of various oils based on renewable raw materials.