How Much Did Solugen Raise? Headquarters, Funding & Key Investors

Solugen, a Houston-based sustainable chemical manufacturer, has raised $855.8 million across multiple funding rounds, including a $200 million Series D led by Kinnevik, Lowercarbon Capital, and Refactor. The company reached a $2 billion valuation in 2022 and later secured a $213.6 million U.S. Department of Energy loan to scale operations. With top investors such as Baillie Gifford, GIC, and Founders Fund, Solugen continues to innovate in biotechnology and clean manufacturing—creating carbon-negative molecular platforms that replace petroleum-based chemicals with sustainable, plant-derived alternatives.

How Much Did Solugen Raise? Funding & Key Investors

Solugen develops sustainable, bio-based chemicals through its proprietary biotechnology platform, which combines synthetic biology, enzyme engineering, and modular plant design. Its products serve multiple industries from agriculture and water treatment to oil & gas, concrete admixtures, and cleaning reducing environmental impact while maintaining industrial efficiency.

What Is Solugen and What Does It Do?

Solugen, founded in 2016 by Gaurab Chakrabarti and Sean Hunt, is based in Houston, Texas. The company manufactures carbon-negative, bio-based chemicals by combining synthetic biology, metal catalyst engineering, and AI-powered modular design.

Solugen employs between 101 and 250 people. Its technology replaces petroleum-derived products with sustainable plant-based substitutes, driving innovation in sectors like renewable fuels, water treatment, and industrial materials. The firm’s mission is to make the world’s chemical infrastructure cleaner, safer, and more efficient through the application of advanced biotechnology.

How Much Funding Has Solugen Raised?

1. Seed Round

Amount Raised: $4.4 million
Date: October 2017
Lead Investors: Refactor
Motivation: To expand the founding team and develop early-stage bio-manufacturing technology.

2. Series A

Amount Raised: $18.8 million
Date: October 2018
Lead Investors: Founders Fund
Motivation: To scale production capabilities and refine core technology.

3. Series B

Amount Raised: $32 million
Date: May 2019
Lead Investors: Founders Fund
Motivation: To increase production capacity and market reach.

4. Series B (Extension)

Amount Raised: $30 million
Date: April 2020
Lead Investors: Refactor
Motivation: To commercialize and accelerate technology adoption.

5. Series C

Amount Raised: $357 million
Date: September 2021
Lead Investors: Baillie Gifford, GIC
Motivation: To reach unicorn status and expand global presence.

6. Series D

Amount Raised: $200 million
Date: October 2022
Lead Investors: Kinnevik, Lowercarbon Capital, Refactor
Motivation: To strengthen market position and accelerate scale-up.

7. Debt Financing

Amount Raised: $213.6 million
Date: June 2024
Lead Investors: U.S. Department of Energy
Motivation: To fund the Bioforge Marshall facility and expand production without equity dilution.

Total Funding Raised: $855.8 Million

Current Valuation: $2 Billion (as of Nov 2022)

Latest Funding Date: June 2024

Key Investors

1. Fifty Years

Details: A venture fund backing early-stage companies solving global sustainability and health challenges.
Investment Focus Areas: Biotechnology, Food Tech, and Clean Manufacturing.
Notable Investments: Upside Foods, Solugen, New Culture.

2. Refactor Capital

Details: An early-stage venture capital firm supporting breakthrough technology ventures.
Investment Focus Areas: Technology, biotech, sustainability.
Notable Investments: Solugen, Future Family.

3. Founders Fund

Details: A San Francisco-based venture capital firm investing across technology and science sectors.
Investment Focus Areas: Technology, biotech, space exploration.
Notable Investments: SpaceX, Palantir, Airbnb.

4. Baillie Gifford

Details: An Edinburgh-based investment management firm emphasizing long-term growth strategies.
Investment Focus Areas: Technology, healthcare, renewable energy.
Notable Investments: Tesla, Amazon, Alibaba.

Where Is Solugen’s Headquarters?

Solugen is headquartered in Houston, Texas, a city renowned for its robust industrial base and proximity to significant energy and chemical markets. Houston’s infrastructure, access to feedstock suppliers, and strong talent pool enable Solugen to manufacture and distribute sustainable bio-based chemicals across North America efficiently.

What’s Next for Solugen?

Solugen is expanding through the Bioforge Marshall facility, a 500,000-sq-ft biomanufacturing plant in Southwest Minnesota. Backed by a $213.6 million U.S. DOE loan, the facility will produce bio-based chemical products for wastewater treatment, agriculture, and construction. Expected to reduce carbon emissions by 18 million kilograms annually, the project underscores Solugen’s mission to revolutionize industrial chemistry, aligning with the White House’s Justice 40 Initiative and global sustainability goals.

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