Tech Company Financing Transactions
Algenesis Funding Round
Algenesis closed a $5 million Seed investment round on 10/26/2023. Investors included Circulate Capital, First Bight Ventures and Mizuho Capital.
Transaction Overview
Company Name
Announced On
10/26/2023
Transaction Type
Venture Equity
Amount
$5,000,000
Round
Seed
Investors
Proceeds Purpose
The new funds will be used to expand Soleic® product lines into breathable waterproof textiles, and injection molded products such as phone cases. The company also plans to expand and strengthen its supply chain by bringing more of its processes in-house, to scale production and commercialization of these materials.
Company Information
Company Status
Private & Independent
Industry
Advanced Materials
Mailing Address
1238 Sea Village Dr
Cardiff, CA 92007
USA
Cardiff, CA 92007
USA
Phone
Undisclosed
Website
Email Address
Overview
Our scientists redesigned plastic materials to harmonize with nature. Our patented Soleic� technology is the world's first high performance, renewable, and fully biodegradable plastic material made from algae. Algenesis was founded in 2016 by three professors from UC San Diego, Dr. Stephen Mayfield, Dr. Micheal Burkart, and Dr. Robert Pomeroy. Together they combined their knowledge and background and worked their way into the polymer market where customers had an unmet sustainability need.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Stephen Mayfield
Co-Founder
Peter Morgan
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