Solugen was founded in 2016 by Gaurab Chakrabarti and Sean Hunt. While the company has not disclosed specific plans to pursue an IPO, CEO Chakrabarti has said that he's open to the idea of an eventual public offering, but going public through an acquisition isn't "terribly interesting to me." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Solugen is a sustainable chemical company that is working to replace environmentally damaging petroleum-based chemicals by using simple sugars and other renewable plant-based ingredients. The company was ranked the World's Second Most Innovative Company on Fast Company's 2022 list. Solugen has raised more than $440 million in venture capital funding from investors including Baillie Gifford, GIC, Temasek Holdings, BlackRock, Carbon Direct Capital Management, Refactor Capital, and Fifty Years. A $357 million Series C round resulted in a $1.5 billion valuation.