Bio-based specialty chemicals company Lygos has won $13m in Series A funding from investors including IA Ventures and OS Fund. The company, which is based at the University of California, Berkeley, will use its expertise to develop a new generation of bioplastics that can be used as building blocks for other materials. The funds raised will be used to continue "building our team, our manufacturing and QC infrastructure", said Eric Steen, co-founder and CEO of Lygos.
Bio-based specialty chemicals company Lygos has won $13m in Series A funding from investors including IA Ventures and OS Fund. The California-based firm uses engineered microbes with sugar and water to create high-value specialty chemicals, in a cleaner, greener alternative process to the dirty petrochemical industry. The funds raised will be used to continue "building our team, our manufacturing and QC infrastructure", said Eric Steen, co-founder and CEO of Lygos.