Press release
Viride GmbH successfully closes seed round financing: valuation of over EUR 6 million achieved
Berlin, 1. Juli 2024 – Viride GmbH, an innovative startup specializing in the sustainable cultivation of microalgae in desert regions, successfully completed a seed round of financing last Thursday. This financing resulted in a company valuation of over 6 million euros.
The seed round was largely funded by experienced business angels and a strategic investor who recognized the potential and importance of Viride’s sustainable and climate-resilient production technologies. With this successful financing round, Viride can now move on to the next growth phase and significantly expand the production of microalgae.
“We are thrilled with the support we have received from our investors,” says Stefan Schmid, co-CEO and co-founder of Viride GmbH. “This funding will allow us to expand our production capacity and further develop our technologies to create a more sustainable and climate resilient future.”
Viride GmbH has set itself the goal of tackling the challenges of climate change and resource scarcity by utilizing the unique capabilities of microalgae. Microalgae are not only extremely nutrient-rich, but also efficient in CO2 sequestration and require significantly less water and land than conventional agricultural products. These properties make them a promising solution for sustainable food and energy production.
Thanks to the fresh injection of capital, Viride will further expand its production facilities in the desert regions and intensify research and development in the field of microalgae cultivation. The expansion of production capacity is an important step towards meeting the growing demand for sustainable and environmentally friendly products.
“Our goal is to establish Viride as a leading provider in the field of sustainable microalgae production,” explains Stefan Schmid. “With the support of our investors, we are confident that we can achieve this goal and make a positive contribution to global sustainability.”