16 December 2019 – DMC Biotechnologies has completed additional closings as part of the Company’s Series A funding round which was led by Sofinnova Partners. Boulder Ventures VII L.P. (BV) and SCG have now joined the Series A round bringing the total close to $11.3 million. Current investors Capricorn Partners and Breakthrough Energy Ventures also participated in the round.
Matt Lipscomb, Ph.D., CEO & Co-Founder of DMC said, “We are excited to announce that BV and SCG have joined our Series A syndicate. These additions strengthen our presence in Colorado and open opportunities for us in new markets abroad, respectively.”
DMC is preparing for the first commercial launch of its specialty amino acid product family in 2020 and is building a portfolio of biobased chemicals for commercialization.
Kyle Lefkoff, Founder and General Partner of Boulder Ventures said, “As a long-term investor in Colorado based chemistry businesses, we are pleased to invest in DMC at this exciting time in the company’s development.”
“SCG is excited to join the syndicate supporting DMC. We envision that DMC’s breakthrough technology can help to foster the future of the bio-to-chemicals pathways to build a more sustainable world,” said Tim McCaffery, Global Business Director, New Materials and Technology, SCG.
About DMC
DMC is a US biobased specialty chemical company which makes products using microbial fermentation. DMC’s metabolic engineering process simplifies biology to make fermentation more predictable, robust, and efficient. By unleashing the power of biology, DMC is on track to address two of the global challenges of our time: sustainably and affordably feeding a growing world population and reducing greenhouse gas emissions through efficient production of (bio)chemicals. For more information, visit: www.dmcbio.com
DMC media contact:
Kathryn Sheridan
Sustainability Consult
[email protected]
About SCG
SCG is a conglomerate with headquarters in Bangkok, Thailand and operations throughout the South East Asian region. The company has three business units – Cement Building Materials, Packaging, and Chemicals. Packaging Business – SCG is a total packaging solutions provider and is integrated from the forest to the end product. Chemicals Business – SCG is a manufacturer of HVA polymers and functional materials. For more information, visit: https://www.scg.com/landing/index_en.html
About Boulder Ventures
Boulder Ventures invests in high potential IT and Biotechnology companies in two geographies: Colorado’s Front Range and the Mid-Atlantic region. Our investments leverage decades long relationships with serial entrepreneurs and investors. For more information, visit: https://www.boulderventures.com/
