String Bio gets $20M in funding; signs deal with Woodside Energy Group
String Bio has secured funding of $20 million from Woodside Energy Group, and others. The biotech startup has also signed a deal with a subsidiary of Woodside Energy Group. String Bio, a biotech startup, announced on Monday that it has received $20 million in investment from Woodside Energy Group, Ankur Capital, Dare Ventures, Redstart, and Zenfold Ventures. String Bio also announced that it has inked a strategic development deal with Woodside Energy Technologies Pty Ltd, a wholly-owned arm of Woodside Energy Group, for the manufacturing of sustainable protein ingredients from greenhouse gases. The company uses innovations in biology, fermentation technology, chemistry, and process engineering to transform methane energy into a variety of value-added goods. String's platform enables items ranging from protein components for nutrition to new agricultural inputs and biodegradable polymer materials. It has its first multi-purpose gas fermentation facility in Bengalu...