Algenetix Scores $2M For Renewable Fuels Technology

San Diego-based Algenetix, a startup, industrial biotechnology firm, announced this morning that it has raised $2.0M in a Series A-1 funding. The firm said it is developing technology which improves the oil productivity in microbes, for the renewable oil industry. The funding came from Two Oceans, Finistere Ventures, and other local San Diego investors. Algenetix is an offshoot of Kapyon Ventures. Algenetix is led by Han Chen; the firm's technology is being developed in partnership with Dr. Janet Donaldson at Mississippi State University. More information »