# Sundew

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sundew

- Industry: Biotechnology
- Headquarters: Copenhagen, Denmark
- Website: www.sundew.bio
- Latest round: Seed (Feb 6, 2022)
- Investors on record: 3

## About

Sundew, based in Copenhagen, Denmark, specializes in developing biological solutions to combat aquatic ecosystem challenges, focusing on innovative products that enhance sustainability in aquaculture.Founded in 2018, Sundew ApS is dedicated to providing biological products for aquatic ecosystems. The company was initiated by founders Andy Gardiner, Neil Goldsmith, and Olof Blomqvist, under the leadership of CEO Giovanni Salerno. As of June 2024, Sundew has raised DKK 17 million through a funding round co-led by the Export and Investment Fund of Denmark, The Yield Lab, and SOSV, accumulating a total of DKK 17 million. The company has completed 5 deals to date.Sundew ApS specializes in the development and sale of biological products aimed at addressing significant challenges in aquatic ecosystems. The company’s core product offerings include Biokos®, an innovative marine natural active designed to control various aquatic fish parasites. Biokos® is characterized by its ease of use, specificity in targeting organisms, and rapid degradation into environmentally safe components. Additionally, Sundew focuses on creating high-performance microalgal delivery systems for RNA and antigens, which are crucial for advancing aquaculture health and sustainability. These products are primarily targeted toward fish breeders and producers who require effective and environmentally benign solutions for managing parasite issues. Sundew's products are available across various global markets, including North America, Europe, and Asia, catering to a diverse client base in the aquaculture industry.Sundew generates revenue through direct sales of its biological products, with a focus on flagship offerings such as Biokos®. The company employs a business-to-business (B2B) sales model, partnering with distributors and retailers to reach end users in the aquaculture sector. Clients typically engage in transactions that involve purchasing Biokos® in various dosage forms tailored to their operational needs. Sundew structures its pricing based on the dosage and application requirements of its products, ensuring flexibility and competitiveness in the market. The company reported an EBITDA of DKK -1,898,192 for the year 2023.In June 2024, Sundew raised DKK 17 million in venture funding co-led by new investor EIFO and returning investors The Yield Lab and SOSV. The company aims to use this funding to increase its production capacity. Future initiatives include the development of new products designed for specific aquatic applications and expansion into new geographic regions, targeting additional markets in Europe and North America by the end of 2025.

## Funding rounds

- Seed, Feb 6, 2022 — SOSV
- Seed, Nov 18, 2021 — Vaekstfonden, The Yield Lab

## Investors

- Vaekstfonden (https://capitalatlas.ai/funds/vaekstfonden) — Seed
- The Yield Lab (https://capitalatlas.ai/funds/the-yield-lab) — Seed
- SOSV (https://capitalatlas.ai/funds/sosv) — Seed