Bengaluru: SoftBank, the Japanese multinational telecommunications and Internet giant, invests $130 million in Zymergen, a technology startup, in Series B funding. The funding round also witnesses participation from investors like Data Collective (DCVC), as well as return investors- True Ventures, AME Cloud Ventures, DFJ, Innovation Endeavors, Obvious Ventures, and Two Sigma Ventures. New investors who contributed to this round include Iconiq Capital, Prelude Ventures, and Tao Capital Partners. Following the funding, Zymergen announces the addition of former U.S. Secretary of Energy and Nobel laureate – Dr. Steven Chu, and SoftBank Group International MD, Deep Nishar as the Board Members. With the funding, the company intends to fast-track the growth and support customers, in addition to recruiting top talent across software engineering, automation, and biology.
Newly appointed Board Member, Deep Nishar says, “We are investing in Zymergen because they are a preeminent bioengineering company and the market leader. They have a revolutionary approach to engineering biology that is already solving business problems for Fortune 500 customers, and a proven ability to impact the economics of these mature, at-scale businesses”.
Incepted in 2013 by Zach Serber, Jed Dean, and Joshua Hoffman, this San Francisco based technology entity is unleashing the power of biology by delivering better economics for products made from biology that are used across industries, introduce new products to market faster, and develop novel products. By presenting biology in an engineering and mathematical mindset, it enables to put all the pieces together in a repeatable and trustworthy way to deliver consistent results.
Commenting on the funding, Joshua, Co-founder & CEO, Zymergen opines, “We’re thrilled that SoftBank understands our proven business and supports our long-term growth. The intersection of machine learning and biology allows us to reliably engineer microbes, resulting in new products, new jobs, and wholly new markets”.