Allozymes’ innovative approach to rapidly testing millions of bio-based chemical reactions has not only proven to be a valuable service but also the foundation of a unique and valuable dataset. This dataset has attracted the attention of investors, leading the company to raise $15 million in Series A funding to expand its operations from a helpful service to a globally recognized resource.

When Allozymes was first covered in 2021, the biotech startup was in its early stages with less than five employees operating out of a small lab space. Fast forward to the present, the company now has 32 employees across the U.S., Europe, and Singapore, along with 15 times the lab space, which has enabled them to accelerate their enzyme-screening technique exponentially.

The core technology of the company remains unchanged since 2021, with enzymes being the focal point. Enzymes, which are chains of amino acids that carry out specific tasks in biological systems, have traditionally been challenging to discover or create due to the vast number of variations. Allozymes' method allows them to test millions of enzymes per day using a microfluidics system, significantly speeding up the process compared to traditional methods.

The company has already attracted customers from various industries, with successful case studies highlighting its capabilities in optimizing enzyme pathways for various chemical reactions. Their long-term goal includes expanding their services to discover new molecules to meet specific needs.

Allozymes' vast dataset derived from their services will be kept proprietary, making it the largest enzyme data library globally. The company is also developing a machine learning model based on this data to enhance their offerings and improve prediction accuracy.

The $15 million Series A funding round includes investments from Seventure Partners, NUS Technology Holdings, Thia Ventures, ID Capital, Xora Innovation, SOSV, Entrepreneur First, and Transpose Platform. With adequate funding and a solid roadmap in place, Allozymes is well-positioned to advance into pharmaceuticals and establish a presence in the U.S. market.