Solugen

Solugen

A speciality chemical manufacturing company replacing petroleum-based chemicals with alternatives made from plant-based substitutes.

Solugen is a speciality chemical manufacturing company replacing petroleum-based chemicals with alternatives made from plant-based substitutes that is headquartered in Houston, Texas and was founded in 2016 by Gaurab Chakrabarti and Sean Hunt. The company uses enzymatic technologies and chemical solutions to create environmentally friendly petrochemical substitutes. Products made by Solugen include biocides, oxidants, scale inhibitors, chelants, and breakers, and are made for use in industries such as oil & gas, water treatment, agriculture, cleaning, and soil and ground remediation.

Funding
Pre-seed

On March 20, 2017 Solugen announced raising an undisclosed amount of seed funding from Fifty Years (lead investor), Y Combinator, FundersClub, and Aera VC.

Seed

On October 24, 2017 Solugen announced raising $4.4 million in seed funding from Y Combinator, Tuesday Capital, Soma Capital, Social Capital, Refactor Capital, MIT, Liquid 2 Ventures, KdT Ventures, Investo, and Todd Corenson. The company plans on using their seed funding to help grow its distribution of bioperoxide and launch a new consumer brand of home cleaning products.

Series A

On October 17, 2018 Solugen announced raising $18.8 million in series A funding from Fifty Years (lead investor), Refactor Capital, and Founders Fund.

Series B

On May 22, 2019 Solugen announced raising $32 million in series B funding from Founders Fund (lead investor), Y Combinator, Refactor Capital, KdT Ventures, and Fifty Years. The company plans on using their series B funding to develop more bio chemicals solutions, improve its mobile manufacturing platform, and hire more scientists and business executives.

Timeline

May 22, 2019
Solugen raises a $32,000,000 series B round from Y Combinator, Fifty Years, Refactor Capital and Founders Fund.
May 22, 2019
Solugen raises a $32,000,000 series B round from Founders Fund.
March 2019
Solugen raises a $13,500,000 series A round from Fifty Years, Y Combinator and Founders Fund.
October 31, 2018
Solugen raises a $18,771,998 series A round.
October 2017
Solugen raises a $4,400,000 seed round from Social Capital, Y Combinator, Massachusetts Institute of Technology, Refactor Capital and Liquid 2 Ventures.
2016
Solugen was founded by Gaurab Chakrabarti and Sean Hunt.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Solugen seed round #2
4,400,000
October 2017
18,771,998
October 31, 2018
7 Results
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People

Name
Role
LinkedIn

Adam Grochowalski

Employee

Brad Flora

Investor

Bryan Frist

Investor

Cantos Ventures

Investor

Ed Roman

Investor

Elizabeth Iorns

Investor

Gaurab Chakrabarti, MD, PhD

Founder

Jake Seip

Investor

Jared Friedman

Investor

Jennifer 8. Lee

Investor

Josh Buckley

Investor

Jude Gomila

Investor

Ling Wong

Investor

Matt Brezina

Investor

Neil Devani

Investor

Nick Alexander

Investor

Peter Nyguen

Employee

Sean Hunt

Founder

Sergio Romo

Investor

Stan Gulchenko

Investor

Todd Corenson

Investor

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Jonathan Shieber
January 21, 2021
TechCrunch
Late last year, Solugen, a startup using synthetic biology to take hydrocarbons out of the chemicals industry, decided against pursuing a new round of funding that would have valued the company at over $1 billion, TechCrunch has learned. Instead, the Houston-based bio-manufacturing company raised an internal round of roughly $30 million from existing investors and [...]
Connie Loizos
January 18, 2020
TechCrunch
During this week's Democratic debate, there was a lot of talk, unsurprisingly, about ensuring the future of this country's children and grandchildren. Climate change was of particular interest to billionaire Tom Steyer, who said repeatedly that addressing it would be his top priority were he elected U.S. president. As it happens, earlier the same day, [...]
Jonathan Shieber
March 24, 2019
TechCrunch
Solugen, a startup that has set itself up with no less lofty a goal than the decarbonization of a massive chunk of the petrochemical industry, may be the first legitimate multi-million-dollar company to start out in a meth lab. When company co-founders Gaurab Chakrabarti and Sean Hunt began hunting...

References

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