Plant-based Peroxide-Maker Solugen Raises $4.4m Seed Round from Y Combinator, Joe Montana’s VC, others
Founded in 2016, Solugen produces bio-based solutions that are fundamentally changing the chemicals industry. The company’s first product, BioperoxideTM, was created using patented enzymatic technology to convert plant sugars into hydrogen peroxide and led to the manufacturing of a comprehensive line of products such as its flagship BioSolTM and ScavSolTM solutions.
Today, BioSol and ScavSol help treat, clean and oxidize water uses with oil and gas, waste water treatment and mining chemicals. Solugen’s solutions remove the need for highly combustible and toxic petrochemical-based chemicals to clean water as its products are more efficacious, cheaper, safer to produce, and less hazardous for customers and their employees as well as fully biodegradable.
Soma invested in the seed at an $8 million valuation. Solugen raised their $32 million Series B led by Founders Fund.