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- Bluepha
Bluepha Valuation, Funding & Investors
Bluepha is valued at $1B as of February 2023.
Last Bluepha valuation
$1B
Series B · Feb 2023
Last Bluepha funding round
$59M
Series B · Feb 2023
Cumulative funding Bluepha raised
$303M
across 7 funding rounds
Key investors in Bluepha
Frees Fund
Hillhouse Investment
Qianhai Fund of Funds
ZGC Group
Country Garden Venture Capital
Trinity Innovation Fund
About Bluepha
Bluepha is a Singapore-headquartered biotechnology company that engineers bio-based materials using microbial fermentation and data analytics. The firm develops alternatives to petroleum plastics for packaging, textiles, and consumer goods, targeting industries like personal care and agriculture. Founded in 2020, Bluepha collaborates with global chemical producers to scale production of its polyhydroxyalkanoate polymers.
Founded
2016
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$1B (Feb 2023)
Bluepha Valuation
Bluepha is currently valued at $1B, based on its Series B in February 2023.
The $59M round was led by Zhongping Capital, with participation from Innolink Fund and Huanghai Financial Holdings.
Bluepha's valuation has grown 1.6x from $629M at its Series B in January 2022 to $1B in February 2023, across 2 priced rounds.
Bluepha valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Feb 2023 | Series B | $1B |
| Jan 2022 | Series B | $629M |
Bluepha Funding History
Bluepha has raised a total of $303M across 7 funding rounds.
Bluepha's first fundraising round was a $700K seed round in February 2017. The most recent completed round was a $59M Series B in February 2023.
Bluepha funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2023 | Series B | Zhongping Capital (lead); Innolink Fund; Huanghai Financial Holdings | $59M | $1B | - |
| Jan 2022 | Series B | Chengtong Mixed Reform (lead); China Chengtong Holding Group (lead); Genesis Capital (lead); Frees Fund; Hillhouse Investment; Trinity Innovation Fund; Zhongping Capital; Country Garden Venture Capital | $126M | $629M | Bluepha, a Chinese synthetic biology company, closed a further tranche of its Series B financing in January 2022 with Hillhouse Investment, Frees Fund, Genesis Capital, China Chengtong Holding Group, Country Garden Venture Capital, Trinity Innovation Fund and Zhongping Capital among the investors. The Series B was raised in several tranches: a first tranche in February 2021, a CNY 430 million second tranche led by Country Garden Venture Capital in August 2021, and a later tranche of about CNY 800 million led by Genesis Capital and the China State-Owned Enterprise Mixed Ownership Reform Fund. Financial terms of the January 2022 tranche were reported inconsistently across databases. Bluepha develops biosynthesis technology and produces biodegradable polyhydroxyalkanoate (PHA) bioplastics for packaging and consumer products. The company is headquartered in China and sells to industrial and consumer brand customers in the bio-based materials market. |
| Aug 2021 | Series B | Country Garden Venture Capital (lead); Tencent (lead) | $77M | - | - |
| Feb 2021 | Series B | Hillhouse Investment (lead); Lightspeed China Partners (lead); Frees Fund; Fujian Septwolves; ZGC Group; Trinity Innovation Fund; Qianhai Fund of Funds | $31M | - | Bluepha is a Chinese biotech startup founded in 2016 that develops biodegradable polyhydroxyalkanoate (PHA) bioplastics using proprietary synthetic biology technologies to accelerate microbe reproduction and improve PHA extraction efficiency. Commercial production of high-performance PHA powder or particles began in 2018, targeting FMCG and F&B companies as raw materials, with plans to leave end-product development to downstream partners. The company has a STEM education spin-off, Bluepha Lab, offering customized courses, lab services, study tours, and monetizing R&D while raising synthetic biology awareness among influential families. Bluepha raised nearly CNY200 million (USD30.9 million) in its Series B funding round announced around January/February 2021, the largest for a Chinese synbio startup at the time, led by Lightspeed China Partners and GL Ventures. New investors included Septwolves Venture Capital and Trinity Innovation Fund, with participation from existing backers Frees Fund, Qianhai Fund of Funds, Qihang Industrial Investment Fund, and Frontier Enterprise Investment Fund. Funds will expand production to over 10,000 tons annual capacity and advance R&D, aiming for one new product yearly. Taihe Capital served as exclusive financial advisor. Prior rounds included Series A+ in March 2020 and earlier investments from Leaguer Venture Capital, TusPark Ventures, and Green Pine Capital Partners. Since starting PHA production, Bluepha achieved 8-digit RMB revenue annually (at least CNY10 million) with 30% year-over-year growth rates before the Series B. It secured letters of intent from around 30 clients but faced capacity constraints limiting order fulfillment. The company earned the 2017 Future Planet Award for Sustainable Growth and was a 2020 finalist for the DBS Foundation Social Impact Prize. Synbio market growth is projected at nearly 30% CAGR to 2025, with Bluepha addressing high costs, low output, and performance instability. |
| Nov 2019 | Series A | Green Pine Capital Partners (lead); Frees Fund; ZGC Group; Qianhai Fund of Funds | $9M | - | - |
| May 2018 | Seed | Leaguer Venture Capital (lead); Frees Fund | $2M | - | - |
| Feb 2017 | Seed | Frees Fund (lead); TusStar | $700K | - | - |
Who has invested in Bluepha?
18 investors have backed Bluepha across its funding rounds, including Frees Fund, Hillhouse Investment, Qianhai Fund of Funds, ZGC Group, Country Garden Venture Capital and Trinity Innovation Fund.
Lead investors include Zhongping Capital, Chengtong Mixed Reform, China Chengtong Holding Group, Genesis Capital, Country Garden Venture Capital and 6 other investors.
Bluepha Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 5 | Lead | Feb 2017 | ||
| 2 | Participant | Nov 2019 | ||
| 2 | Lead | Feb 2021 | ||
| 2 | Participant | Feb 2021 | ||
| 2 | Lead | Jan 2022 | ||
| 2 | Lead | Aug 2021 | ||
| 2 | Participant | Nov 2019 | ||
| 1 | Lead | Feb 2021 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Feb 2021 | ||
| 1 | Lead | Jan 2022 | ||
| 1 | Participant | Feb 2023 | ||
| 1 | Participant | Feb 2017 | ||
This data is available for Pro users. Sign up to see all 18 Bluepha investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialInvestments by Bluepha
Bluepha has invested in 1 company to date.
Latest investment by Bluepha was on December 28th 2023. Bluepha invested in Yinghua Chenrui in their $1M Angel round.
Latest Investments by Bluepha
| Description | - |
| HQ Country | |
| HQ City | - |
| Deal Date | 28 Dec 2023 |
| Round | Angel |
| Raised | $1M |
| Investors | Linear Capital |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Bluepha investments and their VC round multiples. Start Free Trial | |
Bluepha Competitors
Bluepha competitors include listed companies like Genus and FMC, and private ones like Spiber, Unibio, Colossal Biosciences and Sangon Biotech.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $900M | - | ||
| Private | - | - | $496M | - | ||
| Private | - | - | $10B | - | ||
| Private | $102M | - | $1.4B | 13.7x | ||
| Publicly listed | $880M | $491M | $2B | 2.4x | ||
| Publicly listed | $3.5B | ($1.5B) | $964M | 1.3x |
Bluepha Public Comps
Bluepha is still privately-owned, but its public comps include Evolution Metals & Technologies, Daejoo Electronic, Hydrograph Clean Power, Victrex, ELANTAS Beck India, Mersen, Kingfa Science and Technology, Morgan Advanced Materials, FMC and Eckert & Ziegler.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($2M) | - | 72.3x | (521.5x) | (25.7x) | |||
| $191M | $35M | 6.5x | 7.2x | 35.1x | 51.7x | |||
| $43K | ($8M) | 23373.3x | - | (128.3x) | - | |||
| $396M | $81M | 2.7x | 2.6x | 13.4x | 11.1x | |||
| $89M | $23M | 11.2x | - | 43.6x | - | |||
| $1.3B | $149M | 1.2x | 1.1x | 10.3x | 6.8x | |||
| $209M | $28M | 4.4x | - | 32.6x | - | |||
| $1.3B | $118M | 1.0x | 1.0x | 11.4x | 7.0x | |||
This data is available for Pro users. Sign up to see all Bluepha competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Bluepha
| When was Bluepha founded? | Bluepha was founded in 2016. |
| Where is Bluepha headquartered? | Bluepha is headquartered in Beijing, China. |
| Is Bluepha publicly listed? | No, Bluepha is a private, VC-backed company. |
| What is Bluepha's valuation? | Bluepha was last valued at $1B in its Series B in February 2023. |
| How much funding has Bluepha raised? | Bluepha has raised $303M across 7 funding rounds. |
| What was Bluepha's last funding round? | Bluepha's last funding round was a $59M Series B in February 2023, led by Zhongping Capital. |
| Who are Bluepha's investors? | Bluepha's investors include Frees Fund, ZGC Group, Hillhouse Investment, Trinity Innovation Fund, Zhongping Capital, Country Garden Venture Capital, Qianhai Fund of Funds, Lightspeed China Partners, Chengtong Mixed Reform, Fujian Septwolves and 8 others. |
| Which companies are comparable to Bluepha? | Companies comparable to Bluepha include Spiber, Unibio, Colossal Biosciences, Sangon Biotech, Genus and FMC. |
| How many companies has Bluepha invested in? | Bluepha has invested in 1 company, including Yinghua Chenrui. |
| What was Bluepha's last investment? | In December 2023, Bluepha invested in Yinghua Chenrui's $1M angel round alongside Linear Capital. |
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