Synonym Announces $6.3 Million Pre Seed Funding to Build Standardized Fermentation Infrastructure for Biomanufacturing Industry
Launches Facility Development to Address Capacity Bottleneck in Biomanufacturing
NEW YORK and BERKELEY, CA – October 14, 2022 – Synonym Biotechnologies, a financing and development platform for biomanufacturing, announced $6.3 million in pre-seed financing from Andreessen Horowitz (a16z), Giant Ventures, Blue Horizon, Thia Ventures and other prominent venture funds active in decarbonization technology.
Synonym also announced it launched development for its first US-based “fermentation farm” — a productized, microbial fermentation facility. This facility, along with the network of facilities Synonym aims to build, will tackle the 1000-fold increase in production capacity needed to meet future demand for biomanufactured products.
“Biomanufacturing will be a core driver of 21st-century economic development, akin to how petroleum catalyzed so much of the 20th century’s growth,” said Synonym’s Co-Founder and CEO Edward Shenderovich. “In the last five years, the biomanufacturing ecosystem has exploded, and the products poised to come to market are revolutionary. But they cannot achieve that impact without the means of production at commercial scale and without appropriate forms of financing.”
Synonym is developing a new standards-based design for fermentation infrastructure that will make it possible for synthetic biology and other companies to massively scale production. In parallel, a standards-based approach will make it possible for capital providers to invest in fermentation infrastructure as a new asset class.
Synonym expects to make further announcements on construction, architecture, and other development partners in the coming months.
About Synonym Bio
Synonym builds essential infrastructure for the biomanufacturing revolution: a worldwide network of facilities, where Synonym partners create biomanufactured products, at commercial scale, using standardized processes. Synonym believes biomanufacturing facilities will become an important sustainable asset class driving 21st century industrial growth.