Austrian biotech startup Arkeon raises €2.75M of investment

The Vienna-based Arkeon, a startup that creates sustainable proteins through carbon capture, has raised €2.75 million as part of €4 million round in December for its further scaling. The round was led by ICL Planet Startup Hub.

• Founded in 2021 by three researchers Dr. Simon Rittmann, Dr. Guenther Bochmann, and Dr. Gregor Tegl, Arkeon is an ingredients company, leveraging the power of ancient microbes to convert CO2 directly into protein ingredients. The company’s approach to producing amino acids and functional peptides for food and lifestyle products enables a regenerative way to nourish people on a global scale. 
• In December 2022 Arkeon announced the closing of €4 million in an additional fundraiser, led by food and climate tech investors, including ICL Group, FoodHack, Tet Ventures, and aws Gründerfonds. To date, Arkeon has received over €12 million in overall funding.

“Our team has harnessed proficiencies in microbiology and gas fermentation to create an entirely new regenerative food-production system.  ICL’s support and partnership will be instrumental in helping us scale our archaea-derived protein production capabilities,”

said Gregor Tegl, co-founder and CEO of Arkeon.

• The fresh round was led by Israel-based ICL Planet Startup Hub, a specialty minerals company, which creates impactful solutions for humanity’s sustainability challenges in the food, agriculture, and industrial markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company employs more than 12,500 people worldwide, and its 2021 revenues totaled approximately $7 billion. 
• As the newest portfolio member of ICL’s Planet Startup Hub, Arkeon will have full access to the ICL Food Specialties state-of-the-art R&D labs and production facilities. The investment will support the development of Arkeon’s sustainable one-step fermentation bioprocess.