DryGro closes Series A at £3.8m to advance its Kenya production facility
The company secured a final £2m tranche from the Becht Family Charitable Trust to bring total Series A funding to £3.8m.
DryGro cultivates duckweed as a high-protein substitute for soybean meal using a proprietary controlled environment system. The company operates a pilot production facility in Kenya.
DryGro has secured a £3.8m Series A round, closing the final £2m tranche with backing from the Becht Family Charitable Trust. This follows an earlier £1.8m tranche in the same round.
The proceeds will be directed towards advancing the development of the company duckweed production facility in Kenya, with commercial-scale production targeted for 2022.
Alongside the funding, DryGro is launching a project with the European Space Agency and UK Space Agency to monitor its growing systems using Earth observation data.
Use of funds
- 01Fund research and development
- 02Build out infrastructure