The sustainability and climate focused biochemistry company, Solugen, raised $357M in their Series C funding round. Solugen’s valuation is now above $1.8B, making them Katapult’s first unicorn investment. 

Solugen’s technology focuses on using renewable resources to produce new carbon neutral and carbon negative chemicals.

The Katapult Group invested $80,000 in Solugen in 2017 directly though the investment arm Nordic Impact. The Series C funding round included investments from GIC, Baillie Gifford, Temasek, and Blackrock.

“We found an investor-company fit with the funds that participated in this round. These are generational investors with 100 year old histories who aren’t just thinking a quarter or two ahead. It’s clear to them that the concept of decarbonizing heavy industries is not a fad. We’re building a generational company. Taking over a $6T industry will take our full lifetimes, and we’ve surrounded ourselves with the growth capital that’s similarly minded.” – Co Founder of Solugen, Gaurab Chakrabarti in an interview with ClimateTech VC.

Tharald N. Founder and Owner of Katapult says about Solugen’s technology, “We are happy to have invested in Solugen from an early stage. They quickly showed their competency and drive with the development of a range highly-successful and promising water treatments, concrete reinforcers, fertilizers, and various strengths of detergents with little environmental impact.”

Solugen’s technology focuses on using renewable resources to produce new carbon neutral and carbon negative chemicals.

“At Solugen, we’re turning that 7% of global emissions into a 0–and then we’re turning that number negative. Solugen isn’t just decarbonizing the chemicals industry, we’re actually making it carbon negative.”- Co Founder of Solugen Gaurab Chakrabarti in an interview with ClimateTech VC.

See Katapult’s full portfolio here.