Biotech startup ZymoChem announced today that it has raised $21 million, with proceeds from the Series A funding round, in addition to funding from the U.S. Department of Energy and existing revenues, to be used to launch its first high-performance material and advance its first partnered product to commercial scale.
Founded in 2013, California-based ZymoChem uses microbes to convert renewable feedstocks into high-value, biodegradable polymers with a near-zero CO2 emissions footprint. According to the company, the process produces materials with a cost advantage over petroleum-based products, and at higher yields than current biomanufacturing.
Harshal Chokhawala, Co-Founder and CEO of ZymoChem said:
“We’re upending the materials industry. Our technology delivers sustainability without compromising performance, scale, and importantly economics. This unlock already catalyzed multiple partnerships with world-leading companies and we’re thrilled to expand our impact with our key stakeholders.”
The funding round was led by bioscience-focused venture investor Breakout Ventures with participation from new investors including lululemon athletica and Toyota Ventures, as well as existing investors including GS Futures, KdT Ventures, and Cavallo Ventures.
Lindy Fishburne, Managing Partner at Breakout said:
“ZymoChem has the most compelling technology we’ve seen to scale bio-based chemicals and materials while remaining cost competitive with petroleum-derived products.”