Segetis raises $25.5 million in Series C financing

4:45 AM, 17th August 2012

GOLDEN VALLEY, US: Segetis Inc has raised $25.5 million in its Series C financing. Saudi Basic Industries Corporation (SABIC) Ventures BV led the investment with full participation by current Segetis investors including Khosla Ventures, Malaysia Life Science Capital Fund (MLSCF), and Royal DSM, through its venturing subsidiary DSM Venturing. A new Malaysian-based investor, PNB Equity Resource Corporation Sdn Bhd, also joined in this round of financing.

“As one of the fastest growing chemical companies, SABIC is a fantastic addition as a strategic investor. SABIC’s lead in this round and the follow-on investment from our current investors demonstrates the strong confidence and excitement in what we are trying to accomplish. The new financing will accelerate our progress in ramping up the supply chain and commercialization of our high-performing renewable chemicals,” said Atul Thakrar, CEO, Segetis.

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