Solugen
Industrial
Founded: 2016
Last Round Valuation: $2.03B
Solugen is a cutting-edge biotechnology company that has captured global attention for its innovative approach to sustainable chemical production. Founded with a mission to revolutionize industrial processes, Solugen is at the forefront of a new era in the chemical industry, where eco-friendly solutions meet top-tier performance. Leveraging the power of biotechnology and synthetic biology, the company has developed groundbreaking proprietary technology that allows for the production of high-quality chemicals, such as hydrogen peroxide, using renewable feedstocks. By reimagining chemical manufacturing, Solugen is spearheading a paradigm shift towards a more sustainable and environmentally conscious future, proving that it is indeed possible to drive progress without compromising our planet.
Solugen Overview:
Solugen is an innovative biotechnology company that is revolutionizing the chemical industry with its pioneering approach to sustainable chemical production. The company was founded in 2016 by Dr. Gaurab Chakrabarti and Dr. Sean Hunt, both former students of Rice University. With a shared vision to address the environmental challenges associated with traditional chemical manufacturing, they set out to create a more sustainable and efficient alternative.
At the core of Solugen's groundbreaking technology is its unique bioengineering platform. The company has engineered microorganisms, particularly bacteria, to produce high-value chemicals using renewable feedstocks like plant sugars. This approach significantly reduces the reliance on fossil fuels and minimizes the carbon footprint of the chemical production process, making it much more environmentally friendly compared to conventional methods.
One of Solugen's most notable achievements is the development of a cost-effective, eco-friendly method for producing hydrogen peroxide, a widely used chemical with applications in various industries, including paper and pulp, textiles, and water treatment. Traditionally, hydrogen peroxide production has involved energy-intensive and hazardous processes, but Solugen's biomanufacturing technology replaces these outdated methods with a greener and safer alternative.
By utilizing their bioengineering platform, Solugen has successfully created a closed-loop system, allowing them to produce hydrogen peroxide on-site at customer facilities. This eliminates the need for costly transportation and storage, further reducing the overall environmental impact. The company's unique and decentralized approach to chemical manufacturing has garnered widespread interest and recognition, leading to significant partnerships with major companies seeking more sustainable solutions.
Solugen's commitment to sustainability extends beyond its innovative technology. The company places a strong emphasis on responsible sourcing of raw materials and transparency in their production processes. They are dedicated to promoting a circular economy by encouraging the recycling and reuse of materials whenever possible.
Through their revolutionary advancements, Solugen is proving that it is feasible to achieve a balance between industrial progress and environmental preservation. By offering sustainable alternatives to traditional chemical production, they are helping industries transition towards a more eco-conscious future. Solugen's dedication to sustainable practices and their commitment to making a positive impact on the planet have positioned them as a leading force in the quest for a greener and more sustainable world.
Founders:
Sean Hunt Ph.D
Gaurab Chakrabarti Ph.D
Top Investors:
Baillie Gifford
BlackRock
Carbon Direct Capital Management
Fifty Years
Founders Fund
GIC (Government of Singapore Investment Corporation)
KdT Ventures
Kennivik
Lowercarbon Capital
Refactor Capital
Temasek
Temasek Holdings
Y Combinator
Funding History:
Date | Share Type | Amount Raised | Raised to Date | Issue Price | Post Money Valuation | Key Investors |
---|---|---|---|---|---|---|
Oct 2022 | Series D | $200MM | $630.57MM | $40.70 | $2.03B | Kennivik, Lowercarbon Capital, Refactor Capital |
Sep 2021 | Series C-1 | $320MM | $392.2MM | $37.14 | $1.83B | GIC, Baillie Gifford, Temasek Holdings |
Sep 2021 | Series C-2 | $38.37MM | $110.57MM | $29.71 | $1.83B | GIC, Baillie Gifford, Temasek Holdings |
May 2019 | Series B-1 | $31.43MM | $72.2MM | $7.27 | $265.97MM | Founders Fund, Y Combinator, Refactor Capital |
Apr 2019 | Series B | $21MM | $40.77MM | $3.22 | $104.43MM | Undisclosed Investors |
Oct 2018 | Series A-8 | $2.43MM | $2.43MM | $1.25 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-9 | $50K | $50K | $1.67 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-1 | $14MM | $14MM | $2.05 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-2 | $455K | $455K | $0.46 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-3 | $800K | $800K | $0.67 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-5 | $100K | $100K | $0.81 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-6 | $904.99K | $904.99K | $1.00 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-4 | $30K | $30K | $0.84 | $53MM | Refactor Capital, Founders Fund, Fifty Years |
Oct 2018 | Series A-7 | $1,000K | $1,000K | $1.13 | $53MM | Refactor Capital, Founders Fund, Fifty Years |