Danish start-up, Visibuilt was founded in early 2023 by CEO Line Kloster Pedersen. The company is developing the world’s first fermentation-based binder for pavements, utilizing the root-like structure of fungi – mycelium – to create an alternative to bitumen, the fossil-based binder currently used in the asphalt industry.
They have successfully closed their pre-seed funding round, raising €1.1 million with the support of EMDFonden and a consortium of four seasoned investors: Steen Riisgaard, Per Falholt, David Kauffmann, and Thomas G. Schmidt. This brings Visibuilt’s total funding record to €4.4 million, providing a boost to the development of visiBIT, the world’s first fermentation-based binder for pavements utilizing mycelium, the root-like network of fungi. Last year, Visibuilt reached a major technical milestone by testing visiBIT at the Fehmarnbelt Tunnel, Northern Europe’s largest construction site, and is now ready to further boost field tests. The investment will enable Visibuilt to expand its team, drive R&D efforts, and partner on additional outdoor pilot tests, marking a significant step forward in the company’s mission to reinvent road construction with nature inspired solutions.

Biotechnology Pioneers Join Visibuilt as Investors
Together, the four investors, Steen Riisgaard, Per Falholt, David Kauffmann, and Thomas G. Schmidt have 150 years' worth of experience within the field of biotechnology and business development. They have a deep understanding of how to develop and scale a high-risk startup and spinouts into successful companies, from Novozymes (now Novonesis) to AGC Biologics and latest 21st.BIO. The investment is timely supporting Visibuilt in completing its first product, visiBIT, the first fermentation-based binder for asphalt. The startup will also leverage the capital raise to develop production design to unlock further outdoor field tests.
Additionally, Visibuilt plans to recruit more talent for its team in the coming years. CEO and Founder, Line Kloster Pedersen says: "We are beyond excited to announce the successful close of our pre-seed round! Over the past year, we have achieved significant milestones that have laid a strong foundation for our innovation. This progress, coupled with the perfect synergy of investor expertise and resources puts Visibuilt in the perfect position to accelerate our journey and deliver on our vision of fungal-based binders to the world”
Investor, Steen Riisgaard says: “I support Visibuilt because they represent a deeply original and innovative approach to applying biological methods in the asphalt industry. With visiBIT, they offer a more sustainable alternative to the fossil-heavy bitumen. This technology has the potential to reinvent the way we produce asphalt, reduce its environmental impact, and create a more sustainable future for infrastructure.”
New Climate Tech Fund Backs Visibuilt
EMDFonden is an independent Danish enterprise foundation that supports the development of knowledge and technology aimed at reducing global resource use and its associated environmental impact. The foundation owns EMD International, the world's leading software developer for planning and optimizing wind farms, solar power plants, and district heating systems.“With the goal of producing environmentally and climate-friendly asphalt, our investment in Visibuilt is a perfect match for EMDFonden,” pronounces Frank Rosager, Chairman of the Board of EMDFonden.
Consortium of Four Seasoned Investors
Steen Riisgaard served as President and CEO of Novozymes A/S from its inception in 2000 until 2013, driving its global prominence. He is an active board member in notably the Novo Nordisk Foundation, Corbion and Vice Chair in Novo Holding’s board.
Per Falholt is a leader in biotechnology and R&D innovation. As EVP of Novozymes for 15 years, he launched more than 200 biotech products to the market. Per is a CSO and Founder of 21st.BIO.
David Kauffmann is the Founder Partner of European Equity Partners and a seasoned leader in private equity. He played a pivotal role in building AGC Biologics and Aster Cephac into international leaders and successfully facilitated turnarounds and acquisitions, including Azanta's sale to Norgine.
Thomas G. Schmidt is the CEO and Founder of 21st.BIO. His experience spans over two decades as a Senior Partner at McKinsey & Company, where he worked with clients in pharma, biotech, and agriculture. At 21st.BIO, he enables innovators in biotechnology to scale their solutions.