Genomatica has closed $118M in Series C funding to accelerate the global commercialization and expansion of sustainable materials, with the potential to reduce greenhouse gas emissions by 100 million tons per year.
Life science investor, Novo Holdings, led the round, with additional participation by existing and new investors, including Viking Global Investors, Casdin Capital and others. Genomatica will use the investment 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.
Genomatica replaces widely-used chemicals and materials, traditionally derived from petroleum fossil fuels, with plant-based alternatives that are cost-competitive, equivalent in performance and can reduce environmental impact by up to 93% compared to fossil fuel-based production. These molecularly identical replacements can be used in a wide range of products, including clothes, cosmetics, packaging and carpet.
Anders Bendsen Spohr, senior partner at Novo Holdings, said, “Sustainability is a must-have for consumers and for increasingly ESG-focused investors, making it a business imperative for brands. 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.”
Christophe Schilling, CEO of Genomatica, said, “Leading a widespread transition to sustainable materials is what drives us at Genomatica. We’ve grown intentionally by proving the scalability of our products, fostering strategic partnerships with leading brands and manufacturers, and laying the foundation to remake supply chains. We are increasingly powering the shift to more sustainable products that consumers and investors want—and humanity needs.”