SQIM Raises €11M in Funding Round

Italian biotech and biomaterials company SQIM has secured €11 million in funding in a round led by CDP Venture Capital and ECBF VC. The company uses mycelium, the vegetative part of a fungus, as a biofabrication agent to create sustainable products. SQIM plans to use the funding to scale its industrial production and launch a demo plant, further promoting its commitment to the circular economy. The investment highlights the potential of SQIM's innovative biotech solutions and its dedication to a more sustainable future.