Zenno Announces $10.5 Million Seed Round To Pioneer

From the Outset: Daisy Lab by Melissa Grey from DMG Digital Advertising

Auckland-based space-tech company Zenno Astronautics (Zenno) has announced a $10.5 million seed round.

The following includes excerpts  from  Zenno Press Release:

Based on the patented use of super magnets, the company’s satellite control and propulsion system is set to revolutionise the way spacecrafts navigate space and the impact they have on our planet. The tech enables completely fuel-free satellite positioning; as well as fully autonomous, precision interaction between satellites (critical for debris removal, servicing and construction in orbit), leading to world-first electromagnetic shielding of spacecrafts and the humans inside them from radiation damage.

Raised off the back of a multi-year sales commitment of several million dollars, including a committed constellation (a system of satellites that work together to achieve a purpose), by well established industry veterans, New Zealand’s GD1 (Global From Day One) and Nuance Connected Capital led the round, with additional investment from US based Shasta Ventures. NZGCP, K1W1, European billionaire Wolfgang Leitner, Alt Ventures, Enterprise Angels, and NZVC also participated.

Getting objects to move around in space is hugely challenging. There’s nothing to push on and

never enough power or fuel to make things move as much as you need them to,” explains Max Arshavsky, Zenno Founder, CEO and CTO.

“What Zenno has built will enable easy, seamless movement in space without the need for power or fuel and while taking up twenty times less space than traditional propulsion systems. The technology that has the potential to support the future of the space industry for 100 years to come in a transformative, planet friendly manner,” believes Max.

The seed round will enable Zenno to launch the technology in-orbit on a technology demonstration mission in Q4 of 2023.

 

9 August 2022

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What inspired the creation of Daisy Lab?

“Daisy Lab is probably a product of frustration rather than inspiration. Both Nikki and I (Irina) were frustrated with the status quo in the dairy industry and saw precision fermentation as a better solution.”

What is precision fermentation?

“Precision fermentation involves giving microbes extra genetic instructions to produce desired compounds, such as dairy-identical proteins, in controlled conditions.”

What is Daisy Lab's main focus?

“Our focus is on making dairy-identical proteins without cows using microbes through precision fermentation.”

What were the initial challenges Daisy Lab faced?

“Early on, we faced challenges like securing contracts with universities, finding suitable students, and deciding on the best organisms for our research.”

What backgrounds do the founders of Daisy Lab come from?

“My background is in business consulting and bioinformatics, which, combined with Nikki’s qualifications and expertise in Molecular biology, Microbiology, Nanopore and Illumina sequencing – brings a diverse skill set to Daisy Lab.”

 

What makes developing dairy-identical proteins using microbes challenging?

“The challenges include selecting the right microbes, ensuring the genetic instructions are correctly incorporated, and overcoming protein processing limitations.”

How does Daisy Lab's technology compare to other alternatives in the market?

“While direct comparisons are challenging, we’ve made significant progress in scaling yields and developing a clean fermentation process that simplifies downstream processing.”

How does Daisy Lab ensure product quality and consistency?

“We replicate the same processes to ensure consistency, with our end-to-end processing showing consistent results.”

What is Daisy Lab's strategy for market integration?

“Our strategy involves education, collaboration, and showcasing our products’ environmental and ethical benefits to appeal to consumers and partners.”

How does Daisy Lab plan to scale up and expand its market reach?

“Scaling up is challenging, but we plan to leverage our novel qualities, such as reduced emissions and ethical production, to engage the market effectively.”

What is the anticipated timeline for Daisy Lab's market entry?

“We anticipate market entry through IP partnerships within 18 to 24 months, depending on our development progress and the establishment of a pilot plant.”

How has Outset Ventures supported Daisy Lab?

“Outset Ventures has been instrumental, especially in facilitating the expansion of our lab space, which significantly accelerated our R&D efforts.”

What makes Daisy Lab an attractive investment opportunity?

“Daisy Lab offers solid technology, a proven track record, capital efficiency, and significant market potential in sustainable food production.”

What are Daisy Lab's short-term and long-term objectives?

“In the short term, we’re focusing on product development and fundraising. Long-term, we aim to scale our technology for broader market distribution.”

How does Daisy Lab maintain a competitive edge?

“We maintain our edge by continuously innovating, focusing on capital efficiency, and quickly adapting to market and technological advancements.”

What has been the most rewarding experience for you at Daisy Lab?

“Reflecting on our journey and realizing the significant impact we’ve managed to achieve has been incredibly rewarding for me personally.”

What advice would you offer to aspiring entrepreneurs in tech or sustainability?

“My advice is to pursue your passion for the end goal. This passion will guide you through challenges and help you exceed expectations.”