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Leucine reaps $7M in series A funds to advance AI digital twin platform for manufacturing

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Leucine, Ecolab

Leucine reeled in $7 million in series A funding that will be used scale up its AI-generated digital twin platform designed to help drug manufacturers more easily navigate the complex landscape of regulatory compliance. The funding round was led by Ecolab with participation from existing investors Pravega Ventures, Axilor Ventures and Techstars.

The New York City-based company, which was founded in 2019, is focused on using digital twins in its Compliance Cloud platform to alleviate drug development workflow bottlenecks caused by paper-based records and legacy systems.

Read more at Fierce Pharma

Paptic Ltd raises EUR 23 million in financing to accelerate the development of packaging materials

📅 Date:

🔖 Topics: Funding Event

🏢 Organizations: Paptic, Ecolab

Paptic Ltd, a growth company manufacturing wood fibre-based packaging materials, has announced the raising of EUR 23 million in growth financing. The company’s shareholder base was expanded with new strategic partners and international equity investors: a German venture capital fund European Circular Bioeconomy Fund (ECBF) and a global water and hygiene solutions company Ecolab. Also, some of the company’s earlier shareholders, such as Japanese trade house Itochu Fibre Ltd., participated in this financing round. Besides the above-mentioned equity investments, Paptic was granted EUR 2.5 million by the European Innovation Council’s Accelerator program.

The growth financing will support the development of the company’s product portfolio, production partnerships, and the availability of Paptic materials globally. The financing will also accelerate the industrial scale-up of Paptic’s foam-based manufacturing technology. Furthermore, the investment in growth supports the company’s target for carbon neutrality by 2030.

Read more at Paptic News