March 31, 2015 | By admin |
Algal Scientific, a Plymouth, MI-based startupfocused on developing algae-based chemicals to improve animal feed and human nutrition, announced this week that it has raised a $7 million Series B round.
The round was led by Formation 8, with participation from Evonik Industries and Independence Equity, all of whom have invested in Algal Scientific in the past. The company has now raised a total of $10 million since its inception in 2009. Huron River Ventures joined the syndicate and will serve as a Board Observer.