Allonnia Funding, Investors & Competitors

Allonnia has raised $110M across 4 funding rounds, most recently a $20M Series A in December 2025.

Last Allonnia funding round

$20M

Series A · Dec 2025

Cumulative funding Allonnia raised

$110M

across 4 funding rounds

Key investors in Allonnia

  • Viking Global Investors
  • General Atlantic
  • BHP Ventures
  • Bison Ventures
  • Battelle
  • Evok Innovations
  • Ginkgo Bioworks
  • Cascade Investment

Allonnia Overview

About Allonnia

Allonnia is a biotechnology firm developing microbial solutions for environmental remediation, waste upcycling, and carbon capture. Based in Boston, Massachusetts, the company engineers bacteria to treat contaminated water, restore mining sites, and convert industrial waste into valuable products like biofuels. Allonnia's platform has been deployed at Superfund sites and mining operations in the United States and South America. Named a finalist in Fast Company's 2023 Next Big Things in Tech for its BioAir product, which reduces methane emissions from landfills, Allonnia raised $35 million in Series A funding in 2023. The firm partners with mining giants and wastewater utilities to lower CO2 footprints and achieve regulatory compliance.


Founded

2020

HQ

United StatesBoston, MA

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Allonnia Funding History

Allonnia has raised a total of $110M across 4 funding rounds.

Allonnia's first fundraising round was a $40M Series A in October 2020. The most recent completed round was a $20M Series A in December 2025.

Allonnia funding rounds

Allonnia funding rounds
DateStageInvestorsRaisedDeal Summary
Dec 2025Series AViking Global Investors (lead); BHP Ventures; Bison Ventures; Pivotal Capital$20MAllonnia is a Boston-based bio-ingenuity company developing biotechnology solutions for mineral recovery and environmental impact reduction in mining operations. The company's primary technology, D-Solve™, uses selective separation methods to remove contaminants, upgrade mineral concentrates, and recover critical minerals like nickel, copper, and rare earth elements. Allonnia also offers SAFF®, a PFAS treatment platform for emerging contaminants. In December 2025, Allonnia announced a Series A extension round raising over $20 million, led by Viking Global Investors, Bison Ventures, General Atlantic, BHP Ventures, and Pivotal Capital Partners, bringing total funding to over $100 million. The funding accelerates commercial deployment of D-Solve™, including the company's first mine-site pilot and deployment of a mobile D-Solve unit at Eagle Mine, North America's only active nickel mine, with field operations beginning in December 2025. D-Solve demonstrated strong technical performance in a five-day continuous test at SGS Lakefield in Ontario, achieving a 40 percent reduction in magnesium impurities and an 18 percent increase in nickel grade. The investment reflects investor confidence in Allonnia's ability to address critical bottlenecks in mineral supply chains as global demand for critical materials accelerates due to electric vehicles, grid electrification, artificial intelligence, and data center applications.
Jul 2023Series ABison Ventures (lead); Battelle; WholeStack; Vale Indonesia; General Atlantic; BHP Ventures; Viking Global Investors; Iron Grey$30MAllonnia is a Boston-based bio-ingenuity company founded in 2020 that develops biotechnology solutions to extract value from waste, focusing on remediation, upcycling, and valorization for challenges in metals and mining, plastics, PFAS, emerging contaminants, CO2 sequestration, and mining sustainability. The company announced a $30 million Series A extension round on July 12-16, 2023, led by Bison Ventures with participation from IRONGREY (Iron Grey), BHP Ventures, Vale Ventures (Vale Indonesia), Wholestack LP (WholeStack), and PPNG, plus existing investors Battelle, General Atlantic, and Viking Global Investors, bringing total funding to $90 million. Proceeds will accelerate development and market entry of biotechnology platforms, including PFAS separation, concentration, biosensors, biodegradation solutions, and mining sustainability initiatives to address declining ore quality, ESG demands, and CO2 reduction. Allonnia has commercialized two products with more in development, emphasizing natural solutions optimized for industrial applications like plastic upcycling and contaminant remediation. The funding supports ramping up field transitions, particularly for PFAS remediation and mining projects, positioning the company to tackle global waste liabilities that current solutions find cost-prohibitive or ineffective at scale. CEO Nicole Richards highlighted progress since launch in proving industrial innovation and environmental responsibility can align. Later funding includes a more than $20 million Series A extension in 2025 led by Viking Global Investors, Bison Ventures, General Atlantic, BHP Ventures, and Pivotal Capital Partners, increasing total funding over $100 million to support commercial rollout of D-Solve™ for mineral recovery, with a pilot at Eagle Mine starting December 2025 showing impurity reductions and nickel grade improvements.
Mar 2021Series AEvok Innovations (lead)$20MAllonnia, a Boston-based biotech startup spun off from Ginkgo Bioworks in October 2020 with $40 million from investors including Battelle Memorial Institute and General Atlantic, develops microbial technologies to degrade persistent pollutants like PFAS in water and naphthenic acids from oil sands. On March 18, 2021, Allonnia raised a $20 million addition to its Series A round from cleantech investor Evok Innovations, which also involved acquiring Evok-owned Metabolik Technologies to advance remediation solutions. This brought total capital raised to $60 million at that point. The funding supported optimization and scaling of biological waste management technologies, focusing on environmental remediation for industrial pollutants.
Oct 2020Series ABattelle; Ginkgo Bioworks; Cascade Investment; General Atlantic; Viking Global Investors$40MAllonnia is a Boston-based bio-ingenuity company developing scalable biotechnologies for mineral recovery, contaminant removal like PFAS via SAFF, and sustainable mining solutions such as D-Solve for upgrading minerals and reducing impurities. Launched in October 2020 with a $40 million Series A funding round involving investors including Battelle, Cascade Investment, General Atlantic, Ginkgo Bioworks, and Viking Global Investors, as referenced in historical funding data. This initial round supported the company's start in addressing waste management challenges through advanced biology and engineering. Subsequent funding built on this foundation, with a Series A - II in March 2021 and Series A - III for $30M on March 8, 2023 from Bison Ventures, BHP Ventures, Battelle Ventures, General Atlantic, Viking Global Investors, and others, bringing total raised to around $90M-$110M across multiple rounds. By December 2025, Allonnia announced a Series A extension raising over $20M led by Viking Global Investors, Bison Ventures, General Atlantic, BHP Ventures, and Pivotal Capital Partners, pushing cumulative funding beyond $100M to accelerate commercial rollout of D-Solve, including pilots at Eagle Mine for nickel recovery showing 40% reduction in magnesium impurities and 18% increase in nickel grade. Traction includes scale-up demonstrations and planned deployments, positioning Allonnia to tackle energy transition bottlenecks in critical mineral supply chains. Investors highlight the team's path to commercialization from PFAS solutions to mining applications.

Who has invested in Allonnia?

12 investors have backed Allonnia across its funding rounds, including Viking Global Investors, General Atlantic, BHP Ventures, Bison Ventures, Battelle and Evok Innovations.

Lead investors include Viking Global Investors, Bison Ventures and Evok Innovations.


Allonnia Investors

Investors in Allonnia by funding rounds participated
InvestorHQRoundsRoleFirst check
Viking Global InvestorsUnited StatesStamford, CT3LeadOct 2020
BattelleUnited StatesColumbus, OH2ParticipantOct 2020
General AtlanticUnited StatesNew York City, NY2ParticipantOct 2020
BHP VenturesAustraliaMelbourne2ParticipantJul 2023
Bison VenturesUnited StatesSeattle, WA2LeadJul 2023
Ginkgo BioworksUnited StatesUnited States1ParticipantOct 2020
WholeStack--1ParticipantJul 2023
Evok InnovationsCanadaVancouver1LeadMar 2021
Cascade InvestmentUnited StatesColorado Springs, CO1ParticipantOct 2020
Vale IndonesiaIndonesiaRio de Janeiro1ParticipantJul 2023

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Allonnia

Allonnia has acquired 1 company to date.

Last acquisition by Allonnia was on April 23rd 2021. Allonnia acquired Metabolik Technologies for undisclosed valuation.


Latest Acquisitions by Allonnia

Metabolik Technologies
Description
-
HQ CountryCanada
HQ City
-
Deal Date23 Apr 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Allonnia Competitors

Allonnia competitors include listed companies like Borregaard and Tongwei, and private ones like PhaBuilder, Redwood Materials, Gradiant and ADAR Technologies, LLC.

Public and private companies comparable to Allonnia
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
BorregaardNorwayNorwayPublicly listed$807M$169M$1.6B2.2x
PhaBuilderChinaBeijingPrivate--$287M-
Redwood MaterialsUnited StatesCarson City, NVPrivate$200M-$6B30.0x
GradiantUnited StatesBoston, MAPrivate--$1B-
ADAR Technologies, LLCUnited StatesPhoenix, AZPrivate--$220M-
TongweiChinaChinaPublicly listed$13B$461M$7.4B1.5x

Allonnia Public Comps

Allonnia is still privately-owned, but its public comps include Waste Management, Republic Services, Waste Connections, Veolia, Veralto, First Solar, CF Industries, Qinghai Salt Lake Industry, GFL Environmental and Industries Qatar.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Waste Management$25B$7.2B4.3x4.1x15.0x13.5x
Republic Services$17B$5.1B4.9x4.8x16.0x14.8x
Waste Connections$9.5B$3B5.1x4.9x16.3x14.8x
Veolia$51B$7.2B1.0x1.0x7.1x6.1x
Veralto$5.5B$1.3B4.4x4.2x18.2x16.7x
First Solar$5.2B$2.1B3.8x4.0x9.7x7.7x
CF Industries$7.1B$3.2B3.5x3.1x7.7x6.8x
Qinghai Salt Lake Industry$2.3B$1.2B6.9x4.5x13.3x7.3x

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Common questions about Allonnia

When was Allonnia founded?Allonnia was founded in 2020.
Where is Allonnia headquartered?Allonnia is headquartered in Boston, MA, United States.
Is Allonnia publicly listed?No, Allonnia is a private, VC-backed company.
How much funding has Allonnia raised?Allonnia has raised $110M across 4 funding rounds.
What was Allonnia's last funding round?Allonnia's last funding round was a $20M Series A in December 2025, led by Viking Global Investors.
Who are Allonnia's investors?Allonnia's investors include Viking Global Investors, Battelle, General Atlantic, BHP Ventures, Bison Ventures, Ginkgo Bioworks, WholeStack, Evok Innovations, Cascade Investment, Vale Indonesia and 2 others.
Which companies are comparable to Allonnia?Companies comparable to Allonnia include Borregaard, PhaBuilder, Redwood Materials, Gradiant, ADAR Technologies, LLC and Tongwei.
How many companies has Allonnia acquired?Allonnia has acquired 1 company, including Metabolik Technologies.

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