ALGINOR

Avaldsnes, Norway · Founded 2014 · $65.2M raised

Headquarters
Avaldsnes
Employees
51–200
Founded
2014
Business Model
B2B
Website
alginor.no
Total Funding
$65.2M
Last Round
$51.6M Venture RoundJan 2024
Rounds
3

About

Alginor ASA is a Norwegian marine biotech company founded in 2014 and headquartered in Avaldsnes, Norway, dedicated to developing a fully transparent, traceable, and integrated value chain for the commercial harvesting and biorefining of Laminaria hyperborea kelp. The company focuses on total utilization of seaweed biomass through novel biorefinery methods, producing high-quality kelp-based ingredients for pharmaceutical and nutraceutical applications. Alginor controls every link of its value chain through wholly owned subsidiaries responsible for harvesting, upstream processing, and downstream biorefining, ensuring complete traceability for its ingredients. Laminaria hyperborea, sourced from the North Atlantic where approximately 4 million tonnes are available for regulated commercial harvest annually, offers unique properties that make it a premium raw material for multiple established market segments. With over 50 employees and more than 105 million NOK in public funding from EU Horizon 2020, the Research Council of Norway, and Innovation Norway, Alginor is working to become a large-scale global manufacturer of kelp-based ingredients.

Summary

ALGINOR is a Life Sciences company based in Avaldsnes, Norway, founded in 2014. It has raised $65.2M in total across 3 rounds, most recently a $51.6M Venture Round round in Jan 2024. Investors include AMAR INVEST I, Borregaard and European Innovation Council Fund.

Tech & App Stack

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Funding History

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Venture RoundVenture RoundJan 2024
$51.6M

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