Green Elephant Biotech receives mid-million euro amount

"Cell Screw" is the name of the Giessen-based start-up's cell culture technology. It enables pharmaceutical companies to produce large quantities of medicines and vaccines more cheaply. The idea also convinced the state of Hesse.

Beteiligungs-Managementgesellschaft Hessen has invested in Green Elephant Biotech. A consortium of business angels also participated in the pre-seed financing round. In total, the Giessen-based start-up was able to secure a mid-million euro amount.

Green Elephant Biotech intends to use the capital to expand its team and launch its cell culture technology called "Cell Screw" on the market. The start-up's cell cultures are made from CO2-neutral materials and are produced automatically. The aim is to enable biotech and pharmaceutical companies to produce large quantities of drugs and vaccines more cost-effectively. The money from the financing round will also be used to certify the technology.

"The growing demand for adherent cell cultures requires efficient and scalable cell culture systems," says Joel Eichmann, founder and CEO of the start-up. With Green Elephant Biotech's patented solution, users can generate significant efficiency benefits from development to production and improve their environmental footprint at the same time. The biotech was founded at the Technical University of Central Hesse. Joel Eichmann and Felix Wollenhaupt founded the company in December 2021.