Genomatica, the San Diego, US-based company that develops and scales sustainable alternatives to widely used chemicals and materials, has closed US$118m in series C funding to accelerate the global commercialisation and expansion of its eco-friendly solutions.
Life science investor Novo Holdings led the round, with additional participation by existing and new investors including Viking Global Investors, Casdin Capital and others.
The financing follows the recent news that Cargill and HELM are building a commercial production plant based on Genomatica’s technology.
“Sustainability is a must-have for consumers and for increasingly ESG-focused investors, making it a business imperative for brands,” said Anders Bendsen Spohr, Senior Partner at Novo Holdings, which has assets of €61bn across a portfolio of 120 life sciences companies.
“We see a massive opportunity for biological manufacturing to help industries meet this demand for sustainable products.
“Genomatica is creating more sustainable value chains with both a breadth of partnerships and products that it is distinctively executing on at commercial scales that can deliver the kinds of impact that today’s climate crisis requires.”
For the personal care industry, the financing is expected to facilitate new sustainable applications for Genomatica’s Brontide natural butylene glycol, such as fragrance, as well as expanded customers service support and a global ramp-up of Brontide in new regions.