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Egypt-based biotechnology startup Natrify has raised a six-figure pre-Seed round from Ambo ventures, a recently launched, sustainability-focused USD 50 Mn VC fund focused on investing in startups based in Africa. It is currently planning to launch its pilot facility in Egypt as a kickstart for its operations in the MENA region’s market, and will also launch a licensing deal in the UK by the end of this year.
Natrify seeks to offer a sustainable and biodegradable alternative to single-use plastic. It has recently developed its first product, Adigide, a bioplastic that is biodegradable in many environments. The startup is aimed at preventing plastic waste and helping achieve a negative green premium for all businesses.