Thursday, March 25, 2010
Genomatica Raises $15M
San Diego-based Genomatica, a developer of chemical processes based on bio-manufacturing, has raised $15M in a Series C funding round, the firm announced today. According to the firm, the new funding was led by TPG Biotech, and also included prior investors Mohr Davidow Ventures, Alloy Ventures, and Draper Fisher Jurvetson. The company said the funding will go to expand its product pipeline, as well as to hire additional chemical industry veterans to its executive team. The firm's initial target market is creating 1,4 butanediol (BDO), a chemical used for creating polymers, solvents, and other chemicals for the clothing, car, and electronics market.