Heliae Funding, Investors & Competitors

Heliae has raised $108M across 2 funding rounds, most recently a $80M undisclosed-stage round in September 2013.

Last Heliae funding round

$80M

Undisclosed stage · Sep 2013

Cumulative funding Heliae raised

$108M

across 2 funding rounds

Key investors in Heliae

  • MARS
  • Salim Group
  • Agri Investments Pte. Ltd
  • Thomas J. Edelman

Heliae Overview

About Heliae

Heliae is a Gilbert, Arizona-based algae technology company converting sunlight and low-cost carbon into products for nutrition, therapeutics, health & beauty, and agrosciences. Founded in 2008 as a spinout from Arizona State University, it operates a 5-acre production facility yielding PhytoBlue spirulina pigment and other compounds sold to food and cosmetic brands worldwide.


Founded

2008

HQ

United StatesPhoenix, AZ

Website

heliae.com

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Heliae Funding History

Heliae has raised a total of $108M across 2 funding rounds.

Heliae's first fundraising round was a $28M undisclosed-stage round in July 2013. The most recent completed round was a $80M undisclosed-stage round in September 2013.

Heliae funding rounds

Heliae funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2013Undisclosed stageMARS (lead)$80MHeliae is a platform technology company based in Gilbert, Arizona, that uses sunlight and low-cost carbon feedstocks to produce high-value products from algae, targeting markets including nutrition, therapeutics, health & beauty, and agroscience. The company was founded in 2008, constructed a demonstration facility in 2010, and by 2012 had been awarded more than 50 patents. Partners include the Mars Family, Salim Group, Arizona State University, Wageningen University, and Clarecastle Group, among others. Technologies encompass Heliae algae strains, algae production systems, contamination control, harvesting, and product extraction. As of the 2013 document, Heliae had raised $190 million in total funds. A July 9, 2013 announcement detailed a $28.4 million funding round from existing and new investors, but no details on MARS specifically or a March 2013 round were found. The timeline projects construction and completion of the first commercial facility by 2020, with algae production facilities operating globally and over 70 patents awarded plus more than 350 pending. The company employed 104 people as noted in 2013 materials. No financial metrics such as post-money valuation, revenue, ARR, or EBITDA were explicitly stated for the queried round or 2013 period. Sources reference total funds raised and a later specific round amount but lack valuation or revenue figures matching the criteria. Unrelated research expenditures at Arizona State University and other algae projects like Algenol ($50 million in fuels) appear in broader contexts but do not pertain to Heliae's specific VC round details.
Jul 2013Undisclosed stageAgri Investments Pte. Ltd; Thomas J. Edelman; Salim Group$28MHeliae, an Arizona-based algae technology company, raised $28.4 million in investment capital on July 9, 2013, from investors including Agri Investments Pte. Ltd. (a subsidiary of the Salim Group), members of the Mars family, and Thomas J. Edelman, among existing and new backers. The funding supports the construction and expansion of its first commercial-scale algae production facility in Gilbert, Arizona, utilizing the Volaris algae-based production platform. This facility is being built in two phases aligned with customer supply agreements, with Phase 1 targeting a high-value nutraceutical product from a high-light strain and Phase 2 focusing on a personal care product from a low-light strain, expected to be operational by September 2013. The platform enables flexible production of algae-derived products for markets including nutrition, therapeutics, agroscience, health and beauty, specialty chemicals, and fuels. Heliae, a spin-off associated with Arizona State University, aims to commercialize algae-based ingredients, with co-founder Frank Mars emphasizing delivery to therapeutic, nutraceutical, agroscience, and personal care industries.

Who has invested in Heliae?

4 investors have backed Heliae across its funding rounds, including MARS, Salim Group, Agri Investments Pte. Ltd and Thomas J. Edelman.

Lead investors include MARS.


Heliae Investors

Investors in Heliae by funding rounds participated
InvestorHQRoundsRoleFirst check
Agri Investments Pte. LtdSingaporeSingapore1ParticipantJul 2013
Thomas J. EdelmanUnited StatesHouston, TX1ParticipantJul 2013

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Investments by Heliae

Heliae has invested in 1 company to date.

Latest investment by Heliae was on September 4th 2013. Heliae invested in Triton Algae Innovations in their $5M Series A round.


Latest Investments by Heliae

Triton Algae Innovations
Description
Triton Algae Innovations is a developer of microalgae-based solutions for food and feed shortages, utilizing Chlamydomonas reinhardtii, which has completed the GRAS process. This microalgae offers essential amino acids, omega-3 fatty acids, vitamin A, and other nutrients while tasting neutral. The company has engineered scalable, environmentally friendly manufacturing processes and demonstrated gut health benefits. Triton also pioneers biotechnology tools to produce nutritional compounds like colostrum proteins for future foods.
HQ CountryUnited States
HQ City
San Diego, CA
Deal Date4 Sep 2013
RoundSeries A
Raised$5M
Investors-
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Heliae Competitors

Heliae competitors include listed companies like CF Industries, Qinghai Salt Lake Industry, Industries Qatar and SABIC Agri-Nutrient, and private ones like Colossal Biosciences and Biobest.

Public and private companies comparable to Heliae
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CF IndustriesUnited StatesUnited StatesPublicly listed$7.1B$3.2B$20B3.1x
Qinghai Salt Lake IndustryChinaChinaPublicly listed$2.3B$1.2B$20B4.5x
Industries QatarQatarQatarPublicly listed$4.4B$1.6B$17B4.4x
SABIC Agri-NutrientSaudi ArabiaSaudi ArabiaPublicly listed$3.5B$1.4B$16B4.1x
Colossal BiosciencesUnited StatesAustin, TXPrivate--$10B-
BiobestBelgiumWesterloPrivate--$1.5B-

Heliae Public Comps

Heliae is still privately-owned, but its public comps include GE Vernova, Iberdrola, China Yangtze Power, Constellation Energy, Vistra, ACWA Power, Vestas, Ørsted, Gulf Development and Huaneng Lancang River.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
Iberdrola$51B$17B4.4x4.3x13.2x11.8x
China Yangtze Power$13B$11B11.4x11.3x13.9x14.4x
Constellation Energy$26B$5B4.6x3.8x23.5x15.3x
Vistra$18B$5B4.0x3.3x13.9x10.2x
ACWA Power$2B$1.1B22.3x19.9x41.9x36.4x
Vestas$22B$2.6B1.4x1.3x11.9x10.1x
Ørsted$9.8B$2.9B3.6x2.8x11.9x8.1x

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Common questions about Heliae

When was Heliae founded?Heliae was founded in 2008.
Where is Heliae headquartered?Heliae is headquartered in Phoenix, AZ, United States.
Is Heliae publicly listed?No, Heliae is a private, VC-backed company.
How much funding has Heliae raised?Heliae has raised $108M across 2 funding rounds.
What was Heliae's last funding round?Heliae's last funding round was a $80M undisclosed-stage round in September 2013, led by MARS.
Who are Heliae's investors?Heliae's investors include Agri Investments Pte. Ltd, Thomas J. Edelman, MARS and Salim Group.
Which companies are comparable to Heliae?Companies comparable to Heliae include CF Industries, Qinghai Salt Lake Industry, Industries Qatar, SABIC Agri-Nutrient, Colossal Biosciences and Biobest.
How many companies has Heliae invested in?Heliae has invested in 1 company, including Triton Algae Innovations.
What was Heliae's last investment?In September 2013, Heliae invested in Triton Algae Innovations' $5M Series A.

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