Tunisia’s Biotech WaterSpirit Raises USD 872 K Funding

Tunisian B2B biotech startup WaterSpirit has announced the completion of a fundraising round of DT6.2 million (USD 872 K). The funding came from Tunisian investors and contributors. The new investment will help WaterSpirit scale its activities, as well as pursue export opportunities, especially in the North American and European markets.

WaterSpirit focuses on extracting bioactive chemicals from microalgae, to be marketed to manufacturers of pharmaceutical and cosmetics products. Astaxanthin is WaterSpirit’s main product. The product targets pharmaceutical, nutraceutical, and “cosmeceutical” (cosmetics with therapeutic effects) sectors of the industry.