Temasek Invests in Solugen to Boost Asia Opportunities
Posted on 04/27/2021
Formed in 2016 by Gaurab Chakrabarti, M.D., Ph.D., and Sean Hunt, Ph.D., Solugen Inc. is a synthetic biology chemicals manufacturer. Singapore’s Temasek Holdings made an investment in Solugen to support further scaleup and sales growth of Solugen’s molecular manufacturing platform that harnesses biology to make high-performing, cost effective carbon negative chemicals, ingredients, and materials.
Solugen believes Southeast Asia will be an ideal location to deploy its technology given the need for cleaner chemical products to support critical infrastructures such as clean water, agriculture, energy, and food/beverage.
In May 2019, Solugen raised US$ 32 million in Series B funding led by Founders Fund with key participation from other venture capital investors such as Y Combinator, Refactor Capital, Fifty Years, and Austin-based KdT Ventures. The capital raise comes on the heels of the company securing US$ 13.5 million in October 2018.