ITALY – SQIM, formerly known as MOGU SRL, an Inarzo, Italy-based biotech and biomaterials company, raised €11M in funding.
The round was led by CDP Venture Capital, and ECBF VC, with participation from Kering Ventures and existing shareholder Progress Tech Transfer.The company intends to use the funds to further capitalize on its proprietary technological platform (i.e. biological fermentation + biochemistry) and to accelerate industrial scaling, through the deployment and launch of a new Demo production plant, characterised by multiple technological processual improvements.Led by CEO Stefano Babbini, and Chief Mycelium Officer Maurizio Montalti, SQIM is a multi-disciplinary, biotech and biomaterials company that uses mycelium as key biofabrication agent and technology, to harness the natural power of fungal mycelia for creating transformative products for application and everyday use across different industries, as fully rooted in the principles of Circular Economy. The company’s legally registered name is currently still Mogu Srl.10/01/2024
