Bio-technology-related startup Cellivate Technologies has raised $1 million in a seed round which is led by Antler along with some other participants like Venture Catalysts, Hatcher+, and We Founder Circle.
The funds gathered will be used in different operations to scale up its R&D efforts, and production of its innovative products, along with expanding its market reach, said Cellivate in a press release.
Viknish Krishnan Kutty launched Cellivate, its main motive is to develop innovative solutions to address critical challenges in cell culture and biomanufacturing. The company’s flagship products include advanced microcarriers which are used for scaling up cell growth and a novel cell-based serum which is specially designed to replace fetal bovine serum.
As per market researchers, the cell culture market which is more focused on microcarriers and serum, is expected to reach $33 billion by 2030.
Cellivate said that its advanced microcarriers and cell-based serum alternatives have the potential to minimize the cost, increase efficiency, and address ethical concerns in cell culture processors. Advancements in such biomanufacturing-related technologies will surely reduce human dependence on animal slaughter, as several products/ ingredients directly or indirectly derived from animals can be procured from cells.
