Companies · Climate / Cleantech

Solugen, Inc.Winter 2017Active

HOUSTON · TX, USA · Climate / Cleantech · refined from filed group “Other Technology · founded 2016 · https://solugen.com/

Diligence memoA one-page analyst read on Solugen, Inc. — recommendation, valuation, rhythm, risks.
$425.9M
Total raised · real
4
Rounds
11.8×
Latest step-up
Top 8%
Sector rank · raised
Series D+
Latest stage · inferred · Thu Sep 02 2021 00:00:00 GMT+0000 (Coordinated Universal Time)

Solugen, Inc. has raised $426M over 4 rounds; too few niche peers to rank its valuation yet.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the climate/enviro sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Dormant
  • Last raise 4.8 yr ago; this sector typically re-raises about every 9 months.
  • Silent for over 3× the sector's normal cadence.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Climate / Cleantech

Solugen, Inc. is one of 207 Climate / Cleantech companies tracked from HOUSTON, TX, USA, on record since 2016. By capital raised it ranks among the largest (ahead of 93% of sector peers), and among the largest by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

AI analyst read est. — model-extracted from this company's public description, not a verified fact. 30%

operates a technology-led product inferred from public copy

Grounded in: “You are a venture analyst

Decarbonizing the chemicals industry.

Solugen is decarbonizing the chemistry of everyday life with enzymes and innovative metal catalysts. Our new to the world Bioforge platform technology can produce high value chemical goods that are biobased and carbon negative, at cost on par with current technologies. We are making sustainable chemistry accessible to all living things, to ensure a prosperous world exists for generations.

BiotechnologyClimateClimateTechIndustrialManufacturingclimate/cleantech
Find Solugen, Inc. online

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
16
Investors (latest)
2016
Year incorporated
2021-09-02
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$2.5B$5.0B$7.5B$10.0BSeries B · 2018-10-17 Raised $19M (real) Modeled valuation $455M (est)$19M$455MSeries B2018Series B · 2019-04-23 Raised $20M (real) Modeled valuation $485M (est)$20M$485MSeries B2019Series B · 2020-03-20 Raised $30M (real) Modeled valuation $731M (est)$30M$731MSeries B2020Series D+ · 2021-09-02 Raised $357M (real) Modeled valuation $6.9B (est)$357M$6.9BSeries D+2021+$20M+$30M+$357MCumulative $426M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Series B$18.8M · 2018
Series B extension$20.0M · 2019
Series B extension$30.1M · 2020
Series D+$356.9M · 2021no Series C on file

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed, Seed, Series A, Series C — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 33%.

Modeled valuation trajectory
$6.9B
Base estimate est.
$1.9B
Conservative case
$13.2B
Upside case
$3.0B
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Series D+a $100M–$400M round). Valuation is modeled from stage benchmarks scaled by the climate/enviro sector profile. Directional, not a quoted figure.

Series B · modeled $455.3M · 2018-10-172018Series B · modeled $485.1M · 2019-04-23Series B · modeled $731.3M · 2020-03-20Series D+ · modeled $6.9B · 2021-09-022021
Model inputs · modeled:benchmark-stage-stepup-v1
12%
Dilution assumption
Implied ownership sold in the financing.
78%
Survival probability
63% low · 87% high
1.25×/yr
Annual markup
1.40×/yr upside case
4.8 yr
Elapsed time used
4.8 yr actual, capped for stale marks
climate/enviro
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
12 mo
Avg between rounds
$148.0M/yr
Capital velocity
7.7 yr
On record since
2018
First round
4
Rounds on file
How it compares to the market

Benchmarked against 207 companies in Climate / Cleantech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 53× above median
This company$425.9M
Sector median$8.1M
Latest round — vs other Series D+ rounds in sector (real $, this stage) 2.8× above median
This company$356.9M
Sector median$126.1M
Modeled value — vs sector median (estimate, all stages) 116× above median
This company$6.9B
Sector median$59.7M

Raised more than 93% of sector peers (real $). Modeled value above 95% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Series D+) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful.

This companyCohort peer
$1.0B$10.0B$100.0M$1.0BCapital raised (log)Mastec Inc · Series D+ Raised $294.4M · modeled $3.5B (est)ChargePoint, Inc. · Series D+ Raised $570.9M · modeled $3.1B (est)Solugen, Inc. (this company) Raised $425.9M · modeled $6.9B (est)Solugen, Inc.
CompanyStageRaised · realValue · estvs peer med.
Solugen, Inc. this companySeries D+$425.9M$6.9B1.98×
Mastec IncSeries D+$294.4M$3.5B1.00×
ChargePoint, Inc.Series D+$570.9M$3.1B0.90×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Series B$18.8M2018-10-17$104.3M$455.3M90%
Series B$20.0M2019-04-23$111.1M$485.1M90%
Series B$30.1M2020-03-20$167.5M$731.3M90%
Series D+$356.9M2021-09-02$3.0B$6.9B90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Series B$18.8M2018-10-17
    • First recorded raise — entered as Series B.
    • 50 investors on this round.
  2. Series B$20.0M2019-04-23
    • Raised 6 mo later, in step with the ~9 mo sector norm.
    • Round roughly the size of the prior one.
    • 14 investors on this round.
  3. Series B$30.1M2020-03-20
    • Raised 11 mo later, in step with the ~9 mo sector norm.
    • Round 1.5× larger than the prior — scaling up.
    • 17 investors on this round.
  4. Series D+$356.9M2021-09-02
    • Raised again after 17 mo — slower than the ~9 mo sector norm.
    • Round 11.8× larger than the prior — scaling up.
    • 16 investors on this round.
Intelligence
2022 ~Q3
Modeled next raise · ~12mo cadence
$1.1B
Modeled next size est.range $696.1M$1.7B
11.8×
Last step-up
$148.0M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Brian Singerman8 other2019-04
Seth Bannon1 other2018-10
Gaurab Chakrabarti2018-10
Sean Hunt2018-10
Registry & provenance

Solugen, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1756965
SEC CIK
2016
Incorporated
Similar companies

Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

CompanySectorStageRaised · realValue · estWhy similar
Ambiq Micro, Inc.Climate / CleantechSeries D+$405.5M$3.0Msame sector · same stage
Aurora Solar Inc.Climate / CleantechSeries D+$398.5M$3.5Bsame sector · same stage
ChargePoint, Inc.Climate / CleantechSeries D+$570.9M$3.1Bsame sector · same stage
Form Energy, Inc.Climate / CleantechSeries D+$610.2M$5.1Bsame sector · same stage
Mastec IncClimate / CleantechSeries D+$294.4M$3.5Bsame sector · same stage
Sidewalk Infrastructure Partners, LlcClimate / CleantechSeries D+$950.0M$762.2Msame sector · same stage
Sun KingClimate / CleantechSeries D+$156.0M$1.3Bsame sector · same stage
Climate Care Innovations IncClimate / CleantechSeries D+$150.0M$1.6Bsame sector · same stage
Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
C16 Biosciences, Inc.
Next-gen ingredients to decarbonize consumer products, starting w/…
BiotechnologySeries B$63.6M82%
Living Carbon
maximizing biomass on low quality land
Biotech78%
Birch Biosciences
We recycle plastic using engineered enzymes
Biotech77%
Earth Renewable Technologies, Inc.BiotechnologySeries A$118.2M76%
BLUUMBIO
We make bacteria and plants that clean up pollution.
Biotech76%
Energy/Matter Conversion CorpEnergy / ClimatePre-Seed$5.7M75%
Ligo Biosciences
Enzyme design models.
Biotech75%
Carbon Removal Co., Inc.Other TechnologySeries B$34.4M75%
Frequently asked
How much funding has Solugen, Inc. raised?
Solugen, Inc. has raised approximately $425.9M in disclosed capital across 4 recorded financing rounds, aggregated from public filings.
What is Solugen, Inc.'s estimated valuation?
Provath's modeled valuation for Solugen, Inc. is approximately $6.9B (modeled range $1.9B–$13.2B). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Solugen, Inc. at?
Solugen, Inc.'s latest modeled financing stage is Series D+. Its most recent recorded round closed around Thu Sep 02.
What does Solugen, Inc. do and where is it based?
Solugen, Inc. operates in the Climate / Cleantech sector, based in HOUSTON, TX, USA. Decarbonizing the chemicals industry.
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