A $38 million funding round has been disclosed by Arzeda, a protein design business that creates new enzymes for industrial, agricultural, and other uses.
The Seattle-based startup uses tools for protein design to produce enzyme blueprints. In its laboratories, Arzeda tests and develops the enzymes as well.
Among its clients is Unilever, which has employed Arzeda to find novel enzymes for laundry and cleaning supplies. Additionally, it collaborates with Gore-Tex manufacturers and oil major BP. Another product made with the company’s expertise is stevia, a sugar alternative.
David Baker, the director of the esteemed Institute for Protein Design at the University of Washington, helped launch several other biotech firms in Seattle, but Arzeda was the first to emerge from his lab.
CEO of Arzeda Alexandre Zanghellini received his Ph.D. at Baker’s lab in 2009, the same year he co-founded the company.
Eric Althoff, who is currently employed at Seattle Children’s Therapeutics, and vice president of strategic initiatives Daniela Grabs Röthlisberger are the other co-founders.
Sofinnova Partners, Fall Line Capital, Sucden Ventures, Silver Blue, and the venture division of W.L. Gore & Associates—the company that makes Gore-Tex—are among the investors in the most recent round. Bunge Ventures, Lewis & Clark Agrifood, and the Continental Grain Company’s venture arm were among the previous investors that took part.
The business raised venture money after nine years of bootstrapping. $86 million has been raised in total capital thus far, including a $33 million Series B round in 2022. There are seventy employees in all.