Solugen valuation, funding and investors

Solugen works in sustainable chemical manufacturing, based in Houston, United States. Founded in 2016, it has about 136 employees.

Chemicals Growth Equity

VALUATION · TODAY

$584M −2% after Growth

Range $369M – $917M · Grade B

TODAY

+12 MO

$1.00B

$2.00B

$3.00B

$4.00B

$5.00B

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

Seed $4.40M

Series B $32.0M

Series C $350M

Series D $200M

Growth $50.0M

ValuationBefore first round12-month outlook: where it points, how wide it fansHover the past: the outlook shows what was predicted then

HEADCOUNT · TODAY136 employees

−1%6m growth

−2%1y growth

−28%2y growth

100

200

300

Data from Jan 2021

TODAY

Predicted in 1 yr $570M −2% vs today

Predicted next raise $55.5M if a round comes

Winding-down probability 26%

Last round: Growth · $50.0M · Mar 2026
Valuation at last round: $556M · implied
Headcount: 136 · flat
Grade: B
Founded: 2016

How VCMC values companies →

Solugen valuation today

VCMC values Solugen at $584M today, with a range of $369M to $917M and a grade of B. The valuation starts from its last funding round, a growth round in Mar 2026.

Valuation by date (136 rows)

Each point is what the model would have shown on that date, using only what was known then; before its first round, a company is valued as a startup because it later raised.

Solugen: valuation by date, as the model would have shown it on each date
Date	Valuation	Range	Predicted in 1 yr	Phase	Headcount	Trend	Grade	Winding-down probability
1 Jan 2016	$5.86M	$2.13M – $16.1M	$7.03M (+20%)	before first round	–	unknown	D	0%
1 Feb 2016	$5.88M	$2.14M – $16.2M	$7.22M (+23%)	before first round	–	unknown	D	0%
1 Mar 2016	$5.91M	$2.15M – $16.2M	$7.40M (+25%)	before first round	–	unknown	D	0%
1 Apr 2016	$5.93M	$2.16M – $16.3M	$7.60M (+28%)	before first round	–	unknown	D	0%
1 May 2016	$5.95M	$2.17M – $16.4M	$7.80M (+31%)	before first round	–	unknown	D	0%
1 Jun 2016	$5.98M	$2.18M – $16.4M	$8.01M (+34%)	before first round	–	unknown	D	0%
1 Jul 2016	$6.00M	$2.18M – $16.5M	$8.22M (+37%)	before first round	–	unknown	D	0%
1 Aug 2016	$6.16M	$2.24M – $16.9M	$8.44M (+37%)	before first round	–	unknown	D	0%
1 Sep 2016	$6.33M	$2.30M – $17.4M	$8.67M (+37%)	before first round	–	unknown	D	0%
1 Oct 2016	$6.49M	$2.36M – $17.8M	$8.90M (+37%)	before first round	–	unknown	D	0%
1 Nov 2016	$6.67M	$2.43M – $18.3M	$9.14M (+37%)	before first round	–	unknown	D	0%
1 Dec 2016	$6.84M	$2.49M – $18.8M	$9.38M (+37%)	before first round	–	unknown	D	0%
1 Jan 2017	$7.03M	$2.56M – $19.3M	$9.63M (+37%)	before first round	–	unknown	D	0%
1 Feb 2017	$7.22M	$2.63M – $19.8M	$9.89M (+37%)	before first round	–	unknown	D	0%
1 Mar 2017	$7.39M	$2.69M – $20.3M	$10.1M (+37%)	before first round	–	unknown	D	0%
1 Apr 2017	$7.59M	$2.76M – $20.9M	$10.4M (+37%)	before first round	–	unknown	D	0%
1 May 2017	$7.79M	$2.84M – $21.4M	$10.7M (+37%)	before first round	–	unknown	D	0%
1 Jun 2017	$8.00M	$2.91M – $22.0M	$11.0M (+37%)	before first round	–	unknown	D	0%
1 Jul 2017	$8.21M	$2.99M – $22.6M	$11.3M (+37%)	before first round	–	unknown	D	0%
1 Aug 2017	$8.44M	$3.07M – $23.2M	$11.6M (+37%)	before first round	–	unknown	D	0%
1 Sep 2017	$8.67M	$3.15M – $23.8M	$11.9M (+37%)	before first round	–	unknown	D	0%
1 Oct 2017	$8.89M	$3.24M – $24.4M	$12.2M (+37%)	before first round	–	unknown	D	0%
25 Oct 2017	$17.6M	$11.6M – $53.6M	$35.2M (+100%)	after a round	–	unknown	C	0%
1 Nov 2017	$17.9M	$11.6M – $53.6M	$35.2M (+97%)	after a round	–	unknown	C	0%
1 Dec 2017	$18.9M	$11.6M – $53.6M	$35.2M (+86%)	after a round	–	unknown	C	0%
1 Jan 2018	$20.1M	$11.6M – $53.6M	$35.2M (+75%)	after a round	–	unknown	C	0%
1 Feb 2018	$21.3M	$11.6M – $53.6M	$35.2M (+65%)	after a round	–	unknown	C	0%
1 Mar 2018	$22.4M	$11.6M – $53.6M	$35.2M (+57%)	after a round	–	unknown	C	0%
1 Apr 2018	$23.8M	$11.6M – $53.6M	$35.2M (+48%)	after a round	–	unknown	C	0%
1 May 2018	$25.2M	$11.6M – $53.6M	$35.2M (+40%)	after a round	–	unknown	C	0%
1 Jun 2018	$26.7M	$11.6M – $53.6M	$35.2M (+32%)	after a round	–	unknown	C	0%
1 Jul 2018	$28.3M	$11.6M – $53.6M	$35.2M (+24%)	after a round	–	unknown	C	0%
1 Aug 2018	$30.0M	$11.6M – $53.6M	$35.2M (+17%)	after a round	–	unknown	C	0%
1 Sep 2018	$31.8M	$11.6M – $53.6M	$35.2M (+11%)	after a round	–	unknown	C	0%
1 Oct 2018	$33.7M	$11.6M – $53.6M	$35.2M (+5%)	after a round	–	unknown	C	0%
1 Nov 2018	$35.2M	$11.4M – $53.6M	$35.2M (0%)	after a round	–	unknown	C	0%
1 Dec 2018	$35.2M	$10.9M – $53.6M	$35.2M (0%)	after a round	–	unknown	C	0%
1 Jan 2019	$35.2M	$10.3M – $53.6M	$35.2M (0%)	after a round	–	unknown	C	0%
1 Feb 2019	$35.2M	$9.82M – $53.6M	$35.2M (0%)	after a round	–	unknown	C	0%
1 Mar 2019	$35.2M	$9.37M – $53.6M	$35.2M (0%)	after a round	–	unknown	C	0%
1 Apr 2019	$35.2M	$8.91M – $53.6M	$35.2M (0%)	after a round	–	unknown	C	0%
1 May 2019	$35.2M	$8.48M – $53.6M	$35.2M (0%)	after a round	–	unknown	C	0%
23 May 2019	$156M	$110M – $332M	$234M (+50%)	after a round	–	unknown	B	0%
1 Jun 2019	$158M	$110M – $332M	$234M (+48%)	after a round	–	unknown	B	0%
1 Jul 2019	$163M	$110M – $332M	$234M (+43%)	after a round	–	unknown	B	0%
1 Aug 2019	$169M	$110M – $332M	$234M (+39%)	after a round	–	unknown	B	0%
1 Sep 2019	$175M	$110M – $332M	$234M (+34%)	after a round	–	unknown	B	0%
1 Oct 2019	$181M	$110M – $332M	$234M (+30%)	after a round	–	unknown	B	0%
1 Nov 2019	$187M	$110M – $332M	$234M (+25%)	after a round	–	unknown	B	0%
1 Dec 2019	$193M	$110M – $332M	$234M (+21%)	after a round	–	unknown	B	0%
1 Jan 2020	$200M	$110M – $332M	$234M (+17%)	after a round	–	unknown	B	0%
1 Feb 2020	$207M	$110M – $332M	$234M (+13%)	after a round	–	unknown	B	0%
1 Mar 2020	$214M	$110M – $332M	$234M (+9%)	after a round	–	unknown	B	0%
1 Apr 2020	$221M	$110M – $332M	$234M (+6%)	after a round	–	unknown	B	0%
1 May 2020	$229M	$110M – $332M	$234M (+2%)	after a round	–	unknown	B	0%
1 Jun 2020	$234M	$108M – $332M	$234M (0%)	after a round	–	unknown	B	0%
1 Jul 2020	$234M	$104M – $332M	$234M (0%)	after a round	–	unknown	B	0%
1 Aug 2020	$234M	$99.2M – $332M	$234M (0%)	after a round	–	unknown	C	0%
1 Sep 2020	$234M	$94.9M – $332M	$234M (0%)	after a round	–	unknown	C	0%
1 Oct 2020	$234M	$91.0M – $332M	$234M (0%)	after a round	–	unknown	C	0%
1 Nov 2020	$234M	$87.0M – $332M	$234M (0%)	after a round	–	unknown	C	0%
1 Dec 2020	$234M	$83.4M – $332M	$234M (0%)	after a round	–	unknown	C	0%
1 Jan 2021	$234M	$79.8M – $332M	$234M (0%)	after a round	69	unknown	C	0%
1 Feb 2021	$234M	$76.3M – $332M	$234M (0%)	after a round	69	unknown	C	0%
1 Mar 2021	$234M	$73.3M – $332M	$234M (0%)	after a round	69	unknown	C	0%
1 Apr 2021	$234M	$70.2M – $332M	$234M (0%)	after a round	69	flat	C	0%
1 May 2021	$234M	$67.2M – $332M	$234M (0%)	after a round	69	flat	C	0%
1 Jun 2021	$234M	$59.3M – $332M	$233M (0%)	after a round	69	flat	C	0%
1 Jul 2021	$234M	$56.4M – $332M	$231M (-1%)	after a round	69	flat	C	0%
1 Aug 2021	$234M	$53.6M – $332M	$229M (-2%)	after a round	69	flat	C	0%
1 Sep 2021	$234M	$51.0M – $332M	$227M (-3%)	after a round	69	flat	C	0%
10 Sep 2021	$2.4B	$1.7B – $4.3B	$3.1B (+30%)	after a round	69	flat	B	0%
1 Oct 2021	$2.4B	$1.7B – $4.3B	$3.1B (+28%)	after a round	69	flat	B	0%
1 Nov 2021	$2.4B	$1.7B – $4.3B	$3.1B (+25%)	after a round	69	flat	B	0%
1 Dec 2021	$2.5B	$1.7B – $4.3B	$3.1B (+22%)	after a round	69	flat	B	0%
1 Jan 2022	$2.5B	$1.7B – $4.3B	$3.1B (+20%)	after a round	110	growing	B	0%
1 Feb 2022	$2.6B	$1.7B – $4.3B	$3.1B (+17%)	after a round	110	growing	B	0%
1 Mar 2022	$2.7B	$1.7B – $4.3B	$3.1B (+15%)	after a round	110	growing	B	0%
1 Apr 2022	$2.7B	$1.7B – $4.3B	$3.1B (+12%)	after a round	110	growing	B	0%
1 May 2022	$2.8B	$1.7B – $4.3B	$3.1B (+10%)	after a round	110	growing	B	0%
1 Jun 2022	$2.8B	$1.7B – $4.3B	$3.1B (+7%)	after a round	110	growing	B	0%
1 Jul 2022	$2.9B	$1.7B – $4.3B	$3.1B (+5%)	after a round	110	growing	B	0%
1 Aug 2022	$3.0B	$1.7B – $4.3B	$3.1B (+3%)	after a round	110	growing	B	0%
1 Sep 2022	$3.0B	$1.7B – $4.3B	$3.1B (+1%)	after a round	110	growing	B	0%
1 Oct 2022	$3.1B	$1.7B – $4.3B	$3.1B (0%)	after a round	110	growing	B	0%
1 Nov 2022	$3.1B	$1.5B – $4.3B	$3.1B (0%)	after a round	110	unknown	B	0%
3 Nov 2022	$2.0B	$1.7B – $3.0B	$2.6B (+30%)	after a round	110	unknown	A	0%
1 Dec 2022	$2.0B	$1.7B – $3.0B	$2.6B (+27%)	after a round	110	unknown	A	0%
1 Jan 2023	$2.1B	$1.7B – $3.0B	$2.6B (+25%)	after a round	180	growing	A	0%
1 Feb 2023	$2.1B	$1.7B – $3.0B	$2.6B (+22%)	after a round	180	growing	A	0%
1 Mar 2023	$2.2B	$1.7B – $3.0B	$2.6B (+19%)	after a round	180	growing	A	0%
1 Apr 2023	$2.2B	$1.7B – $3.0B	$2.6B (+17%)	after a round	180	growing	A	0%
1 May 2023	$2.3B	$1.7B – $3.0B	$2.6B (+14%)	after a round	180	growing	A	0%
1 Jun 2023	$2.3B	$1.7B – $3.0B	$2.6B (+12%)	after a round	180	growing	A	0%
1 Jul 2023	$2.4B	$1.7B – $3.0B	$2.6B (+9%)	after a round	180	growing	A	0%
1 Aug 2023	$2.4B	$1.7B – $3.0B	$2.6B (+7%)	after a round	180	unknown	A	0%
1 Sep 2023	$2.5B	$1.7B – $3.0B	$2.6B (+5%)	after a round	180	unknown	A	0%
1 Oct 2023	$2.6B	$1.7B – $3.0B	$2.6B (+2%)	after a round	190	flat	A	0%
1 Nov 2023	$2.6B	$1.7B – $3.0B	$2.6B (0%)	after a round	190	flat	A	0%
1 Dec 2023	$2.6B	$1.7B – $3.0B	$2.6B (0%)	after a round	190	flat	A	0%
1 Jan 2024	$2.6B	$1.6B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Feb 2024	$2.6B	$1.5B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Mar 2024	$2.6B	$1.5B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Apr 2024	$2.6B	$1.4B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 May 2024	$2.6B	$1.3B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Jun 2024	$2.6B	$1.3B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Jul 2024	$2.6B	$1.2B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Aug 2024	$2.6B	$1.2B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Sep 2024	$2.6B	$1.1B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Oct 2024	$2.6B	$1.1B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Nov 2024	$2.6B	$1.0B – $3.0B	$2.6B (0%)	after a round	190	flat	B	0%
1 Dec 2024	$2.6B	$920M – $3.0B	$2.6B (-1%)	after a round	190	flat	B	0%
1 Jan 2025	$2.6B	$874M – $3.0B	$2.6B (-2%)	after a round	190	flat	C	0%
1 Feb 2025	$2.6B	$831M – $3.0B	$2.6B (-2%)	after a round	190	flat	C	0%
1 Mar 2025	$2.6B	$794M – $3.0B	$2.5B (-3%)	after a round	190	flat	C	0%
1 Apr 2025	$2.6B	$754M – $3.0B	$2.5B (-4%)	after a round	190	flat	C	0%
1 May 2025	$2.6B	$718M – $3.0B	$2.6B (0%)	after a round	190	unknown	C	0%
1 Jun 2025	$2.6B	$682M – $3.0B	$2.6B (0%)	after a round	190	unknown	C	0%
1 Jul 2025	$2.6B	$649M – $3.0B	$2.6B (0%)	after a round	190	unknown	C	0%
1 Aug 2025	$880M	$577M – $1.9B	$510M (-42%)	after a round	140	shrinking	C	97%
1 Sep 2025	$848M	$548M – $1.9B	$489M (-42%)	after a round	140	shrinking	C	97%
1 Oct 2025	$1.2B	$521M – $2.8B	$742M (-36%)	after a round	139	flat	C	89%
1 Nov 2025	$1.2B	$494M – $2.8B	$785M (-35%)	after a round	137	flat	C	82%
1 Dec 2025	$1.1B	$470M – $2.8B	$782M (-32%)	after a round	137	flat	C	76%
1 Jan 2026	$1.2B	$447M – $2.8B	$828M (-30%)	after a round	138	flat	C	70%
1 Feb 2026	$1.2B	$425M – $2.8B	$872M (-29%)	after a round	138	flat	C	64%
1 Mar 2026	$1.3B	$406M – $2.8B	$917M (-28%)	after a round	138	flat	C	59%
18 Mar 2026	$556M	$365M – $921M	$605M (+9%)	after a round	138	flat	B	10%
1 Apr 2026	$558M	$365M – $921M	$604M (+8%)	after a round	138	flat	B	10%
1 May 2026	$560M	$365M – $899M	$581M (+4%)	after a round	130	flat	B	36%
1 Jun 2026	$563M	$365M – $899M	$575M (+2%)	after a round	130	flat	B	36%
1 Jul 2026	$566M	$365M – $899M	$569M (+1%)	after a round	130	flat	B	36%
1 Aug 2026	$573M	$369M – $912M	$573M (0%)	after a round	137	flat	B	33%
1 Sep 2026	$577M	$369M – $914M	$572M (-1%)	after a round	137	flat	B	30%
1 Oct 2026	$581M	$369M – $915M	$570M (-2%)	after a round	136	flat	B	28%
24 Oct 2026	$584M	$369M – $917M	$570M (-2%)	after a round	136	flat	B	26%

Key facts about Solugen

Founded: 2016
Headquarters: Houston, United States
Employees: about 136 -2% in a year
Total raised: $850M
Funding rounds: 6
Last round: Growth Equity Mar 2026

Solugen was founded in 2016 by Gaurab Chakrabarti and Sean Hunt.

Solugen funding history

Solugen has 6 funding rounds on record, from Oct 2017 to Mar 2026, $850M in total. The latest disclosed valuation is $2.00B post-money (Series D, Nov 2022).

Growth Equity 17 Mar 2026
Led by Idealist Capital; with Canada Growth Fund.
Sources: prnewswire.com
$50M
Debt 13 Jun 2024no round page
Led by U.S. Department of Energy.
Sources: solugen.com, solugen.com
$214M
Series D 2 Nov 2022
Led by Kinnevik, Lowercarbon Capital, Refactor Capital; with Temasek, Baillie Gifford, Fifty Years.
Sources: solugen.com, prnewswire.com, carbonherald.com and 2 more
$200M
$2.00B post-money
Series C 9 Sep 2021
Led by GIC, Baillie Gifford; with Temasek, BlackRock, Carbon Direct Capital, Refactor Capital, Fifty Years.
Sources: solugen.com, axios.com, prnewswire.com and 5 more
$350M
Series B 22 May 2019
Led by Founders Fund; with Y Combinator, Refactor Capital, Fifty Years, KdT Ventures.
Sources: solugen.com, synbiobeta.com, houston.innovationmap.com and 2 more
$32M
Seed 24 Oct 2017
Led by Social Capital; with Y Combinator, Refactor Capital, Liquid 2, Massachusetts Institute of Technology, MIT.
Sources: agfundernews.com, trellis.net
$4.4M

Solugen investors

19 investors have backed Solugen; Refactor Capital, Baillie Gifford and Founders Fund and 6 more led at least one round.

Baillie Gifford lead, 2 rounds
Founders Fund lead
GIC lead
Kinnevik lead
Lowercarbon Capital lead
Social Capital lead
U.S. Department of Energy lead
Temasek 2 rounds
Y Combinator 2 rounds
BlackRock
Canada Growth Fund
Massachusetts Institute of Technology
MIT

What Solugen does

Solugen works in chemicals, with 16 recorded offerings and customers in oil & gas, renewable fuels, aerospace & defense and water treatment.

Solugen, Inc. is an American chemical manufacturing company engaged in the development and production of sustainable chemical solutions. The company operates biomanufacturing facilities and a distribution warehouse, and its activities include the manufacture of bio-based building block molecules, engineered enzymes, and metal catalysts for industries such as oil and gas, renewable fuels, aerospace and defense, water treatment, cleaning, agriculture, concrete, and personal care. Solugen also develops modular manufacturing systems that utilize engineered enzymes, plant-based feedstocks, and catalytic reactions to produce emission-free materials. The company is certified and has received industry recognition for its sustainability initiatives.

Description from Veridion's company data.

Products and services

Sustainable Chemical Manufacturing
Biomanufacturing Facility Operation
Engineered Enzyme Development
Metal Catalyst Development
Bio-Based Building Block Production
Modular Manufacturing Platform Deployment
Carbon Negative Molecule Manufacturing
Industrial Chemical Solutions Development
Renewable Chemical Solutions Development
Agricultural Chemical Solutions Development
Water Treatment Chemical Solutions Development
Cleaning Chemical Solutions Development
Concrete Chemical Solutions Development
Personal Care Chemical Solutions Development
Global Bioforge Network Expansion
Sustainable Feedstock Utilization Services

Markets

Oil & Gas
Renewable Fuels
Aerospace & Defense
Water Treatment
Cleaning
Agriculture
Concrete
Personal Care

Technology

Engineered Enzymes
Metal Catalysts
Modular Manufacturing System
Sustainable Feedstocks

Supply chain

Sustainable Sourcing
Regional Distribution Centers

Business model

Business-to-Business
Manufacturing

Industry codes (NAICS)

325199 All Other Basic Organic Chemical Manufacturing 75% match
424690 Other Chemical and Allied Products Merchant Wholesalers 25% match

Questions about Solugen

What is Solugen worth?

Valuation $584M (range $369M to $917M), as of 24 Oct 2026. The last disclosed valuation was $2.00B (Series D, Nov 2022).

Has Solugen raised money?

Solugen has 6 funding rounds on record, from Oct 2017 to Mar 2026, $850M in total. The latest disclosed valuation is $2.00B post-money (Series D, Nov 2022).

Who has invested in Solugen?

Refactor Capital, Baillie Gifford, Founders Fund, GIC, Idealist Capital and Kinnevik, and 13 more. Lead investors include Refactor Capital, Baillie Gifford, Founders Fund and GIC.

How many people work at Solugen?

About 136, down 2% over the last year. Headcount rose from 69 in Jan 2021 to 190 in Oct 2023, then fell to 136 in Sep 2026.

What does Solugen do?

Solugen works in chemicals, with 16 recorded offerings and customers in oil & gas, renewable fuels, aerospace & defense and water treatment. Its main offerings are sustainable chemical manufacturing, biomanufacturing facility operation and engineered enzyme development.

When was Solugen founded, and where is it based?

Solugen was founded in 2016 and is based in Houston, United States. It has about 136 employees, down 2% over the last year.

How we value companies Report an issue

Solugen valuation, funding and investors

Solugen valuation today

Key facts about Solugen

Solugen funding history

Growth Equity 17 Mar 2026

Debt 13 Jun 2024no round page

Series D 2 Nov 2022

Series C 9 Sep 2021

Series B 22 May 2019

Seed 24 Oct 2017