Genomatica secured $90 million in its latest equity offering with participants including new lead investor Casdin Capital, returning investor Viking Global Investors, and organism engineering partner Ginkgo Bioworks.
WHO: Genomatica is a widely recognized leader in bioengineering and aims to lead a transition to more sustainable materials. It develops bio-based process technologies that enable a better way to produce widely used chemicals, from alternative feedstocks, with better economics, sustainability, and performance.
WHY: This cash infusion strengthens their balance sheet to fully execute on its business plan and fuel new growth opportunities.
IN THEIR OWN WORDS: “Biotechnology promises to enable the chemical industry in remarkable ways. That said, only businesses with strong fundamentals and commercial products will be successful,” said Eli Casdin, Chief Investment Officer of Casdin Capital. “Genomatica is one of the few companies with that profile and fresh capital now enables them to grow that position substantially.”
“Genomatica has delivered high-volume bio-based chemicals to market at costs competitive with petrochemical production, not just once but multiple times,” said Jason Kelly, CEO of Ginkgo Bioworks. “We’re doubling down on renewable chemicals through our close relationship with Genomatica – and we’re honored to continue to partner with the best in the market.”
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