Evonik has made a follow-up investment in the biotechnology start-up In Ovo through its venture capital unit. The investment comes as the young company reaches the commercialization stage for its technology and is bringing its gender-testing machine for eggs to the market. Together with co-investor VisVires New Protein Capital, Evonik Venture Capital has provided several million euros in further funding. Evonik Venture Capital first invested in the Leiden, Netherlands-based company in 2018, providing support for a technology that helps solve one of the egg industry’s biggest ethical problems.
A total of eight promising start-ups were invited to pitch at the event “Connecting Bright Innovations 2017” organised by Royal DSM and held this year in Delft (Netherlands), which focused on new and innovative products and biotechnologies for food, health and (bio)tech applications. A panel of expert venturing and innovation specialists is evaluating the pitches with a view to their suitability for further financing and partnering opportunities.