Dutch biotech company Mevaldi B.V. has closed a funding round with High-Tech Gründerfonds (HTGF) and ICIG Ventures, the venture capital unit of International Chemical Investors Group (ICIG). For example, they use sugar to make soles of sneakers and sawdust as the basis for insulation material for housing. “We are delighted to welcome HTGF and ICIG Ventures as strategic investors,” said Roger Ottenheym, CEO of Mevaldi. ICIG Ventures, the venture capital arm of ICIG, focuses on market-oriented innovations in industrial biotechnology, chemistry and materials. “We see great potential in Mevaldi’s technology to shape the future of sustainable chemistry,” said Dr Pelin Yilmaz, investment director at ICIG Ventures.