Origin by Ocean successfully closed its first seed financing round in May 2020, raising M€2 (2 million Euros). Origin by Ocean is tackling the Baltic Sea eutrophication problem with an innovative solution. The company wants to refine algae into bio-based raw materials that can be used in novel ways in detergent products and cosmetics.
Funds now raised will be used to develop the biorefinery process of blue green algae and bladderwrack. The seed round investors include the founders Mari Granström and Mikael Westerlund as well as Riitta Ekengren,
Kiilto Ventures, Moomin Characters, along with all company’s senior advisors. KPMG, who has actively been involved in the project since the start as a financial adviser has also become a shareholder of the company.
The innovative, responsible, and sustainable business model of Origin by Ocean has already attracted attention. The company has attracted a number of disclosed and substantial domestic cooperation partners from different industry sectors, such as Valio Oy, Hartwall Oy, Kiilto Oy, Meriaura Oy, Vitae Clean cosmetics Oy and Nordic Trout.
Origin by Ocean has developed a biorefinery process that will be used to tackle the eutrophication problem of our oceans, starting from the Baltic Sea. The company uses harvested harmful bluegreen algae and farmed bladderwrack as feedstock. Origin by Ocean extracts valuable bio-based molecules from this feedstock for the use within food & beverage, cosmetics, hygiene, and pharmaceutical industries, at the same time significant amounts of eutrophication causing nutrients are removed. The algae based biomolecules that Origin by Ocean provides allows industry to improve the performance of numerous consumer products.