Horizons Ventures et al. in $25.6m round for Synthace

The series-B round was led by Horizons Ventures with additional investment from Luminous Ventures, SOSV and and number of individual and family office investors.

Synthace intends to use the new funds to finance continued product development.

Sofinnova Partners previously led a £1.3m funding round for Synthace in 2013, alongside a syndicate of angel investors. The fresh capital was to be used by Synthace to pursue production of its first chemical products at scale. Sofinnova backed the company via its Green Seed Fund. In conjunction with the equity injection from Sofinnova and the angel syndicate, Synthace also secured a £500,000 Technology Strategy Board award from University College London (UCL) and the University of Manchester.

Company
Synthace is headquartered in London and was founded in 2012 as a spinout from UCL. The company initially engineered biological systems for the production of speciality chemicals, harnessing the abilities of micro-organisms from feedstocks to produce chemical products.

Synthace found it difficult to achieve the level of complexity and throughput required with existing equipment software; the company therefore built its own platform and shifted its business model towards computer-aided biology. It now develops a cloud software platform for automating and improving the success rate of biological research and development.

People
Horizons Ventures - Patrick Zhang (investor).
Synthace - Tim Fell (CEO).

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