Bloom Biorenewables raises EUR 3.9 million in Seed funding
23.02.2021
Bloom Biorenewables, a Fribourg-based startup that develops innovative biomass fractionation technologies, closed its Seed round, resulting in a total of EUR 3.9 million raised from dilutive and non-dilutive sources. This new investment confirms the company’s potential to act as a leader in sustainability and accelerates the market entry of its bio-based solutions. Bloom Biorenewables was a Venture Kick winner in 2020.
 Bloom Biorenewables co-founders Dr. Florent Héroguel (left) and Dr. Remy Buser (right)
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Bloom’s products are specifically designed to substitute unsustainable fossil-sourced carbon in materials and fuels, a crucial step in the fight against global CO2 emissions. The round was led by Breakthrough Energy Ventures-Europe (BEV-E). It links European Investment Bank funding guaranteed by the European Programme for Research and Innovation, Horizon 2020, with long-term risk capital in order to accelerate global decarbonization and support clean energy innovations reaching the market—faster, more efficiently, and in more places in Europe. Other investors in the round include the Berlin-based Beyond Black Venture Capital fund and several angel investors that will provide strategic support for upcoming growth.
The EPFL startup will use the proceeds from the Seed round for the development and market validation of its first products, including marine biofuels, plastics, and fragrances. In addition, Bloom will grow its team and establish an independent R&D facility with sufficient production capacity to unlock the last barrier towards commercialization.
Dr. Remy Buser, CEO and co-founder of Bloom said, “Plants will undoubtedly play a major role in replacing fossil resources. Our agriculture and forestry already produce large quantities of renewable carbon, but a substantial portion is discarded as waste and thereby rapidly released back into the atmosphere. Bloom knows how to store and utilize it more efficiently.”
Bloom Biorenewables was a Venture Kick winner in 2020. “Venture Kick is undoubtedly the foundation of our success. The program provided the first funding, which allowed to break out of academia. It trained the management team to think like entrepreneurs, and it gave us the confidence and credibility to aspire to our ambitious goals and convince one of the largest impact funds there is. The efforts of VK are, thus, essential to accelerate the transition to a sustainable future,” said Dr. Remy Buser.
The EPFL startup will use the proceeds from the Seed round for the development and market validation of its first products, including marine biofuels, plastics, and fragrances. In addition, Bloom will grow its team and establish an independent R&D facility with sufficient production capacity to unlock the last barrier towards commercialization.Dr. Remy Buser, CEO and co-founder of Bloom said, “Plants will undoubtedly play a major role in replacing fossil resources. Our agriculture and forestry already produce large quantities of renewable carbon, but a substantial portion is discarded as waste and thereby rapidly released back into the atmosphere. Bloom knows how to store and utilize it more efficiently.”
Bloom Biorenewables was a Venture Kick winner in 2020. “Venture Kick is undoubtedly the foundation of our success. The program provided the first funding, which allowed to break out of academia. It trained the management team to think like entrepreneurs, and it gave us the confidence and credibility to aspire to our ambitious goals and convince one of the largest impact funds there is. The efforts of VK are, thus, essential to accelerate the transition to a sustainable future,” said Dr. Remy Buser.