New funding boost for bioprocess innovation startup, New Wave Biotech

New Wave Biotech, a London-based AI bioprocess simulation software company, has secured €1.2 million in its latest funding round. The investment, which comprises equity and grant funding, comes from Innovate UK and EIT Food, an initiative supported by the European Institute of Innovation and Technology. The funds will enable New Wave Biotech to expand its workforce and broaden its market reach.

Synthetic biology holds significant promise for reshaping industries, with potential applications spanning food production, biochemicals, and biomaterials. A report by McKinsey estimates that up to 60% of the physical inputs to the global economy could be produced via synthetic biology. Despite this potential, scaling innovations remains a major hurdle, with roughly 90% of synthetic biology technologies failing to move beyond the laboratory.

The challenges lie in the cost and time of research and development. Typically, transitioning from lab-scale experiments to commercial products takes anywhere from three to ten years. Additionally, each experiment can cost between $10,000 and $100,000, making progress slow and resource-intensive.

New Wave Biotech aims to address these challenges through its AI-powered simulation platform, Bioprocess Foresight. The platform allows biomanufacturers to virtually simulate and test bioprocesses before real-world implementation. By predicting outputs, costs, and sustainability impacts, the software helps companies optimize their processes, reduce waste, and improve efficiency.

Zoe Law, CEO & Co-founder of New Wave Biotech, highlighted the broader mission behind the company’s work. “Access to healthy and sustainable food should be a universal right, but current food production processes are harmful to the environment and increasingly vulnerable to climate change,” Law explained. “From alternative proteins to biochemicals, bioproduction has the potential to transform our food systems and supply chains. Our mission is to accelerate these crucial technologies from the lab to the market. This funding is key to expanding our team, enhancing our technology, and reaching more customers.”

The Bioprocess Foresight platform is designed to streamline biomanufacturing by enabling innovators to test a vast range of possibilities without the need for costly and time-consuming physical experiments. The software learns and improves over time by incorporating empirical data, helping companies design more efficient processes and scale their innovations sustainably.

Adam Adamek, Chief Impact Director at EIT Food, underscored the importance of New Wave Biotech’s contribution to the sector. “Momentum is building toward transforming current systems for the better, driven by rising consumer demands for ethical and sustainable products and a compounding global climate emergency,” Adamek said. “We are pleased to invest in New Wave Biotech. Their dedicated team and advanced technology position them well to capitalize on the growth potential in this sector.”

New Wave Biotech’s approach is particularly relevant for the alternative protein industry, which relies heavily on biomanufacturing to produce products that replicate the taste, texture, and nutrition of conventional meat and dairy. Companies in this space often face significant bottlenecks when scaling up production, making simulation tools that optimize bioprocess efficiency highly valuable.

This latest funding round builds on New Wave Biotech’s earlier successes, including previous grants from Innovate UK and backing from venture capital firm Big Idea Ventures. The support reflects growing confidence in the role of AI and simulation technologies in solving some of synthetic biology’s biggest challenges.

As the demand for sustainable and resilient food systems grows, innovations that can accelerate the development of alternative proteins and other bioproducts are gaining increased attention. Tools like Bioprocess Foresight offer a pathway for startups and established companies alike to reduce development time, lower costs, and minimize the environmental footprint of their processes.

By expanding its team and market reach, New Wave Biotech aims to bring its technology to a wider array of biomanufacturing companies. The goal is to support the industry’s growth while addressing urgent challenges related to food security and environmental sustainability.

With this latest investment, New Wave Biotech is set to play a pivotal role in advancing synthetic biology and alternative protein production, helping turn promising lab-scale innovations into viable commercial products.