Riga-based biotech Elogium raised €500K

Riga-based biotech Elogium raised €500K from Latvian Commercialization Reactor Seed Fund and Belgium incubator biotope.

Karlis Udris (CEO) and Katarina Šimunović (CTO) cofounded Elogium in 2021. Elogium develops a probiotic chicken broiler feed additive. According to the company, the additive helps increase the weight of broiler chickens. It also reduces pathogens (campylobacter and salmonella) in their gut system, so these bacteria will not transmit to humans. The company participated in the Commercialization Reactor accelerator. The startup team is scientists and business professionals from Latvia and Slovenia, cooperating with the University of Ljubljana (Slovenia). Elogium will use the seed investment to build up a dossier for application for product authorization in the European market.

Established in 2009 by Nikolai Adamovitch, Commercialization Reactor Seed Fund offers a deep tech-oriented acceleration program in Riga. It invests up to €50K at the pre-seed stage and offers up to €250K as a follow-up investment.

Based in Nevele (Belgium), the biotope is an incubator program, launched by independent research institute VIB. Biotope focuses on biotech startup teams wanting to turn their agrifood innovation into a successful startup. The program gives access to labs, a network of experts, and financial support (€250K of pre-seed funding in the form of a convertible loan).