Tuesday, March 1, 2011

Genomatica Raises $45M

San Diego-based Genomatica, a developer of sustainable chemical technology, announced today that it has raised another $45M in funding. The firm said the funding was led by VantagePoint Venture Partners; Bright Capital, a Russian venture investment firm; and Waste Management. Prior investors Alloy Ventures, Draper Fisher Jurvetson, Mohr Davidow Ventures and TPG Biotech also participated. The firm said the new funding will go towards demonstration-scale production and early commercialization plans for its 1,4-butenediol product, which is made from renewable feedstocks. The chemical is used to make spandex, automotive plastics, running shoes, and other products. The new funding brings the company's total raised to $84M. More information »

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