Zymergen raised $300 million because synthetic biology is so hot right now
Zymergen, one of the companies that's developing biomanufacturing technologies which could reshape any number of industries, said it has raised $300 million in financing yesterday.
It's part of a wave of biotech companies that TechCrunch covered in depth last month.
The investment total, announced yesterday, includes Series D funding led by Baillie Gifford, and joined by Baron Capital Group and one of the world's largest sovereign wealth funds, as well as additional growth financing from Perceptive Advisors, the company said. A number of current investors are also returning, and Zymergen expects to raise additional capital in Q4 as part of a Series D round, according to a statement.
The new capital will be used to accelerate manufacturing of the company's Hyaline film, which should be used seen in commercial products as soon as next year, according to the company.
Zymergen has partnered with companies like Sumitomo, the Japanese chemical conglomerate, and FMC, a US-based pesticide and agricultural products developer, to bring its novel biologically-based chemicals to market.
We built Zymergen to make revolutionary hi-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."