VC Fund Investments
Ocean farming startup Sea6 Energy raises $4.2 M
Bengaluru-based ocean-farming startup Sea6 Energy is raising USD 4.2 million from BASF Venture Capital and existing investors - Netherlands-based aquaculture fund Aqua-Spark and Singapore-based Silverstrand Capital - as part of its ongoing Series C round. The startup will receive the funds in two tranches. Post the investment, Aqua-Spark, which led the Series B round, will hold a 18.3% stake in Sea6 Energy. Silverstrand will own 1.53% stake, while BASF Venture Capital will have 3.65% stake. Tata Capital (via Tata Capital Innovation Fund) , which participated in the startup's Series A round in 2015, will continue to be the biggest external investor with a 21.15% stake. Sea6 Energy, founded in 2010, develops technologies to convert biomass into biofuel, plant growth stimulants, plant defence products, animal feed ingredients, and other bio-renewable products to replace chemicals and plastics. (Sea6 Energy had raised USD 9 million in its Series B round last year.)
Want to receive such news items in your inbox? Click Here to sign up for a trial.
