Genomatica, a San Diego, CA-based company leveraging biology to remake everyday products and materials with a reduced environmental impact, raised 118m in Series C funding.
The round was led by Novo Holdings.
The company intends to use the funding to scale production for its portfolio of products and continue investing in new technologies to amplify the impact of sustainable materials across a range of industries.
Led by Christophe Schilling, Chief Executive Officer, Genomatica replaces widely-used chemicals and materials, traditionally derived from petroleum fossil fuels, with plant-based alternatives. The company has already commercialized sustainable materials used in plastics, spandex and cosmetics, and is working on plant-based nylon, household cleaners and more.
These plant-based alternatives, which are cost-competitive, equivalent in performance and can reduce environmental impact by up to 93% compared to fossil fuel-based production, can be used in a wide range of products including clothing, cosmetics, packaging and carpets.
FinSMEs
28/07/2021