Viridos Funding, Investors & Competitors

Viridos has raised $135M across 4 funding rounds, most recently a $25M Series A in March 2023.

Last Viridos funding round

$25M

Series A · Mar 2023

Cumulative funding Viridos raised

$135M

across 4 funding rounds

Key investors in Viridos

  • Lung Biotechnology
  • Breakthrough Energy Ventures
  • Chevron

Viridos Overview

About Viridos

Viridos is a synthetic biology company engineering microalgae and microbes for biofuel production and carbon capture applications. The firm develops strains producing lipids for sustainable aviation fuel and chemicals from CO2 fixation. Viridos cultivates organisms in open ponds and photobioreactors, partnering with ExxonMobil on large-scale demonstrations in California. Formerly Synthetic Genomics, the San Diego-headquartered company founded in 1999 advances genomic tools for industrial fermentation and environmental remediation.


Founded

2005

HQ

United StatesSan Diego, CA

Status

Privately held

Customer focus

B2B

Revenue model

Licensing

Viridos Funding History

Viridos has raised a total of $135M across 4 funding rounds.

Viridos' first fundraising round was a $10M Series A in February 2013. The most recent completed round was a $25M Series A in March 2023.

Viridos funding rounds

Viridos funding rounds
DateStageInvestorsRaisedDeal Summary
Mar 2023Series ABreakthrough Energy Ventures (lead); Chevron$25MViridos Inc., formerly Synthetic Genomics, develops biotechnology for producing sustainable, low-carbon algae-based jet and diesel biofuels using genetically engineered microalgae grown in saltwater, avoiding competition with freshwater and arable land. The company announced a $25 million Series A equity funding round on March 13, 2023, led by Breakthrough Energy Ventures with participation from Chevron U.S.A. Inc. and United Airlines Ventures. This followed ExxonMobil's decision to end its long-term partnership and funding after over a decade of collaboration since 2009, prompting Viridos to cut 60% of its staff and close outdoor ponds in California. The funding is designated for R&D to enhance algae oil productivity, which Viridos has already increased sevenfold compared to wild algae, aiming for commercial viability within about two years. CEO Oliver Fetzer highlighted progress toward levels needed for deployment, with plans for a demonstration plant producing 100 barrels per day, estimated to cost over $100 million and require hundreds of acres. The technology targets decarbonizing hard-to-electrify heavy transportation sectors like aviation, shipping, and trucking, where diesel and jet fuel dominate global liquid fossil fuel use. Breakthrough Energy Ventures' Carmichael Roberts emphasized Viridos' potential to overcome scaling barriers for sustainable liquid fuels. Investors see it as key to addressing climate challenges in transportation. Post-funding, Viridos focused on bioengineering and optimized production processes for large-scale algae biofuels, including sustainable aviation fuel (SAF) and renewable diesel (RD).
Sep 2015Strategic investmentLung Biotechnology (lead)$50MViridos, formerly Synthetic Genomics Inc. (SGI), develops synthetic biology solutions focused on microalgae for biofuels, bioproduction, and research tools like DNA synthesis systems. Viridos operates in research (genomics solutions, BioXP 3200 system launched in 2015), bioproduction, and applied products for markets like organ transplantation (partnered with United Therapeutics), vaccines (Novartis), food oils (ADM), agriculture (Monsanto), and biodiesel (ExxonMobil). The company acquired an 81-acre site for algae fuel production tied to ExxonMobil collaboration. Viridos continues advancing genetically modified algae for lipid and biomass productivity. Recent activity includes a $25M Series A in March 2023 led by Breakthrough Energy, Chevron Technology Ventures, and United Airlines Ventures.
Apr 2014Strategic investmentLung Biotechnology (lead)$50MViridos, formerly Synthetic Genomics Inc. (SGI), specializes in synthetic biology, focusing on engineered microalgae for biofuels, bioproduction, and research tools like DNA synthesis. Core markets include genomics solutions, instrumentation such as the BioXP 3200 system launched in 2015, and partnerships in organ transplantation, vaccines, food oils, agriculture, and energy. Collaborations with ExxonMobil involved algae fuel production at an 81-acre site in Imperial Valley, while other partners include BP, United Therapeutics ($50M deal in 2014 for organ rejection reduction), Novartis, ADM, Monsanto, and New England Biolabs. In 2014, Viridos expanded into organ transplantation via a $50M collaborative agreement with United Therapeutics, appointing Oliver Fetzer as CEO; this is distinct from Lung Biotechnology.
Feb 2013Series A-$10M-

Who has invested in Viridos?

3 investors have backed Viridos across its funding rounds, including Lung Biotechnology, Breakthrough Energy Ventures and Chevron.

Lead investors include Breakthrough Energy Ventures and Lung Biotechnology.


Viridos Investors

Investors in Viridos by funding rounds participated
InvestorHQRoundsRoleFirst check
Lung BiotechnologyUnited StatesWashington, DC2LeadApr 2014

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Investments by Viridos

Viridos has invested in 1 company to date.

Latest investment by Viridos was on March 4th 2014. Viridos invested in Human Longevity in their $80M Series A round.


Latest Investments by Viridos

Human Longevity
Description
Human Longevity is a San Diego-headquartered genomic health intelligence company founded in 2013. It operates the Health Nucleus clinical research center, utilizing whole-genome sequencing, advanced imaging, and machine learning alongside phenotypic data for comprehensive health assessments. Offerings include HLIQ Whole Genome and HLIQ Oncology services, enabling proactive medicine through the world's largest integrated genomic and clinical database.
HQ CountryUnited States
HQ City
San Diego, CA
Deal Date4 Mar 2014
RoundSeries A
Raised$80M
InvestorsDaniel Curran; Tan Thay; Celgene; Illumina; OS Fund; Singularity University Ventures
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Viridos Competitors

Viridos competitors include listed companies like First Solar, Nextracker, Jinko Solar and Enphase Energy, and private ones like Northvolt and 1Komma5°.

Public and private companies comparable to Viridos
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
First SolarUnited StatesUnited StatesPublicly listed$5.2B$2.1B$22B4.0x
NextrackerUnited StatesUnited StatesPublicly listed$3.6B$747M$13B2.9x
NorthvoltSwedenStockholmPrivate--$12B-
Jinko SolarChinaChinaPublicly listed$9.8B$35M$5.7B0.9x
Enphase EnergyUnited StatesUnited StatesPublicly listed$1.5B$227M$4.8B3.5x
1Komma5°GermanyGermanyPrivate$598M-$1.4B-

Viridos Public Comps

Viridos 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 Viridos

When was Viridos founded?Viridos was founded in 2005.
Where is Viridos headquartered?Viridos is headquartered in San Diego, CA, United States.
Is Viridos publicly listed?No, Viridos is a private, VC-backed company.
How much funding has Viridos raised?Viridos has raised $135M across 4 funding rounds.
What was Viridos' last funding round?Viridos' last funding round was a $25M Series A in March 2023, led by Breakthrough Energy Ventures.
Who are Viridos' investors?Viridos' investors include Lung Biotechnology, Chevron and Breakthrough Energy Ventures.
Which companies are comparable to Viridos?Companies comparable to Viridos include First Solar, Nextracker, Northvolt, Jinko Solar, Enphase Energy and 1Komma5°.
How many companies has Viridos invested in?Viridos has invested in 1 company, including Human Longevity.
What was Viridos' last investment?In March 2014, Viridos invested in Human Longevity's $80M Series A alongside Daniel Curran, Tan Thay, Celgene and 3 other investors.

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