Friday Fundings: Zymergen Inc., Truepill, and Ubicquia
Zymergen Raises Funding for Microbe Research
Zymergen Inc., a synthetic biology startup, secured $300 million in a new funding round led by Baillie Gifford & Co., Baron Capital Inc., and an anonymous sovereign wealth fund.
Zymergen manipulates the genetics of microbes to make a variety of materials. The company’s researchers perform millions of tests on microbes and leverage machine learning to see which microbes show potential for use in products.
Once researchers have selected a microbe, they use it to produce molecules through fermentation. These molecules are then used to create materials like industrial coatings, animal feed, pesticides, and more. The company is fairly secretive about its products, because some large agricultural companies want exclusive use of their materials.
Truepill Will Create At-Home Testing Services With New Funding
Truepill, a healthcare startup that offers telehealth and pharmacy fulfillment services, raised $75 million in a Series C funding round—just two months after it secured Series B funding.
Truepill will use its new funding to create an at-home lab testing service. The company plans to offer hundreds of tests for fertility, STIs, COVID-19, and more. Sid Viswanathan, Co-Founder and President of Truepill is excited about how this testing service will compliment the company’s telehealth and pharmacy offerings. He said he sees the service as the “third leg of the stool” for Truepill.
Ubicquia Offers Streetlight-Powered Technology for Cities
Ubicquia is a company creating systems that plug into streetlights and provide the surrounding area with services like public WiFi, video artificial intelligence, and more. The Florida-based company raised $30 million in a Series C funding round, bringing its total funds raised to $60 million.
The company’s products are present in over 100 cities in the US as well as in Mexico, Colombia, and Chile—and it plans to expand. Ubicquia is also making plans to use its systems to help cities implement 5G technology.
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