Synthetic biology startup Zymergen raises $300 million
"The firm has raised over $870 million so far and says it plans to bring in more in the fourth quarter.
California-based synthetic biology firm Zymergen has raised $300 million in its fourth round of funding, led by the UK pension and trust investment firm Baillie Gifford, an undisclosed sovereign wealth fund, and other existing backers DCVC, True Ventures and SoftBank Group Corp.’s Vision Fund. The firm has raised over $870 million so far and says it plans to bring in more in the fourth quarter.
The new capital will be used to accelerate manufacturing of the company’s Hyaline film, which should be seen in commercial products as soon as next year and also for commercialization of additional breakthrough products across electronics, agriculture, consumer care and healthcare.
Zymergen has partnered with companies like Sumitomo, the Japanese chemical conglomerate, and FMC, a U.S.-based pesticide and agricultural products developer, to bring its novel biologically-based chemicals to market.
“We built Zymergen to make revolutionary high-performance products that outshine existing materials while dramatically reducing environmental impacts from manufacturing, transportation and more,” said Zymergen CEO Josh Hoffman. “This is the right investment for this moment, advancing our transformational long-term vision and bringing real products to market.”
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