Turkish Startup Livzym Biotechnologies Gains Strategic and Financial Backing to Expand Production and International Reach
Livzym Biotechnologies, a pioneering Turkish startup specializing in industrial enzyme production, has successfully raised $11 million in a new investment round. Managed by the Turkiye Development Fund, with investors including Vakıf Katılım, Ziraat Katılım, Ziraat Portföy, and the Development and Investment Bank of Turkiye, this funding marks a significant milestone for the company.
Strategic and Financial Support
The investment round saw participation from both strategic and financial investors, such as Lallemand, Evyap Holding, Türk Telekom Ventures, and Startupİst Ventures. This diverse group of investors valued Livzym Biotechnologies at $60 million, underscoring the company’s potential and the trust it has garnered within the industry.
- Founded in 2014 by Dr. Serdar Uysal and investor partners, Livzym Biotechnologies has grown rapidly thanks to its strong R&D foundation and global expertise. The company’s team, composed entirely of Turkish experts, has been pivotal in establishing Livzym as a leader in industrial enzyme production.
- First in the Region: Livzym Biotechnologies proudly stands as the first industrial enzyme producer in a region spanning from the Middle East and North Africa to the Commonwealth of Independent States, including Russia.
A Game Changer in Enzyme Production
Livzym’s cutting-edge technology enables the production of enzymes that meet global standards, catering to the diverse needs of various industries. This innovation is particularly significant for Turkiye, a country previously reliant on enzyme imports. Livzym’s production capabilities are set to not only replace these imports but also position Turkiye as an enzyme exporter in the surrounding regions.
- Reducing Import Dependency: The company’s mission is to diminish Turkiye’s dependency on imported enzymes, which has been a critical issue for the country. By localizing enzyme production, Livzym contributes to reducing the national trade deficit.
- Supporting the Economy: Livzym’s operations also align with broader economic goals, as the company’s activities are expected to aid in closing Turkiye’s current account deficit by reducing the reliance on foreign-produced enzymes.
Growth and Expansion
The recent $11 million investment will significantly boost Livzym’s production capacity. Moreover, this financial injection will facilitate the company’s expansion into international markets, accelerating its growth trajectory.
- Capacity Expansion: With the new funding, Livzym plans to scale up its production capabilities to meet growing domestic and international demand.
- International Reach: The investment also supports Livzym’s goal of expanding its footprint beyond Turkiye, enabling the company to serve a broader global market.
In a statement, Dr. Serdar Uysal, founder and CEO of Livzym Biotechnologies, expressed his gratitude to the Turkiye Development Fund team, which has supported the company since 2022. He emphasized that the new investment will not only increase production capacity but also significantly accelerate the company’s growth, particularly through its international expansion efforts.
The Future of Livzym Biotechnologies
Livzym Biotechnologies is poised to make a lasting impact on the global biotechnology landscape. As the company continues to innovate and expand, it remains focused on its core mission: to reduce Turkiye’s reliance on imported enzymes and contribute to the country’s economic growth.
With the backing of both strategic and financial investors, Livzym is set to lead the way in industrial enzyme production, offering cutting-edge solutions that meet the needs of industries worldwide.
Source: Egirisim / Prepared by Irem Yildiz