Lygos, Inc., a Berkeley, Calif.-based biotechnology company focused on creating new biology based products, closed a $15.5m Series B financing.
The round was led by IA Ventures and First Round Capital, with participation from Y Combinator Continuity Fund and OS Fund.
The company, which has now raised a total of $40m in equity financing, including non-equity government funding from the US Department of Energy, US Department of Agriculture, and National Science Foundation, is using the funds to expand its technology platform into new products and markets.
Led by Eric Steen, co-founder and CEO, Lygos is advancing a platform that combines advanced biotechnology and computer science to systematically develop new ‘bio’-chemicals. The proprietary platform is based on a high-throughput combination of computational modeling, microbe engineering and screening, combined with deep learning to identify and develop new bio-routes to chemicals.
Lygos uses modern biotechnology to deliver the benefits of petroleum-based and other industrial chemical technology at competitive prices and also develops new bio-routes to chemical functionalities available through biotechnology to expand the performance window in diverse materials systems.