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§ Private Profile · San Diego, CA, USA
Material science company developing plant-based, biodegradable polymers from algae to replace petroleum plastics and eliminate microplastics.
Based in San Diego, California, Algenesis is a material science company that develops fully biodegradable, plant-based polymers from algae to replace conventional petroleum-based polyurethanes and plastics. The organization commercializes its patented Soleic material through business-to-business sales, licensing agreements, and co-development partnerships across the footwear, apparel, and sporting goods sectors. Operating with an estimated headcount of just under 50 employees, the enterprise recently secured a $5 million seed funding round alongside a five-year, $6 million contract from the United States Department of Energy. Algenesis is backed by lead venture investors First Bight Ventures and Circulate Capital, and it collaborates with corporate partners such as Trelleborg and Reef to integrate these sustainable materials into various consumer products. The biotechnology company was officially founded in 2016 by UC San Diego professors Stephen Mayfield, Michael Burkart, and Robert Pomeroy.
Algenesis has raised $5.0M across 1 funding round.
Algenesis has raised $5.0M in total across 1 funding round.
Algenesis has raised $5.0M in total across 1 funding round.
Algenesis's investors include First Bight Ventures, Rob Kaplan, Greylock, Launchpad Capital, Quiet Capital, Rally Ventures, Staenberg Venture Partners, Garrett Smallwood, Diamond Sports Group, MIH Capital, RhinoShield.
Algenesis Labs is a materials science company that develops plant-based, fully biodegradable polyurethane materials under the brand name Soleic®. Their technology offers a sustainable alternative to petroleum-based plastics, targeting industries such as footwear, textiles, and consumer goods. Algenesis serves manufacturers and brands seeking to reduce plastic pollution and greenhouse gas emissions by replacing conventional plastics with eco-friendly, high-performance bio-based polymers. Their products solve the problem of persistent microplastic pollution by enabling materials that biodegrade naturally without leaving harmful residues. The company has demonstrated growth momentum through product launches like the BLUEVIEW shoe in 2022 and partnerships with global brands, expanding applications beyond footwear into textiles and molded goods[1][2][4].
Founded in 2016 by Dr. Stephen Mayfield, Dr. Robert Pomeroy, and Dr. Michael Burkart, Algenesis emerged from a shared vision to combat plastic pollution caused by petroleum-based products. The founders brought decades of scientific expertise in biotechnology and materials science to develop Soleic®, the world’s first fully biodegradable, plant-based polyurethane. The idea originated in the lab as a response to the environmental damage from microplastics, leading to the creation of a proprietary polymer technology that is both renewable and compostable. Early traction included securing patents, publishing peer-reviewed research, and launching proof-of-concept products like the BLUEVIEW shoe, which validated the commercial viability of their materials[1][3].
Algenesis is riding the global trend toward sustainability and circular economy solutions in materials science. The timing is critical as consumer demand and regulatory pressure increase for alternatives to single-use plastics and microplastic-generating products. Market forces favor bio-based, biodegradable polymers that reduce carbon footprints and plastic pollution. By offering a drop-in replacement for petroleum-based polyurethanes, Algenesis influences industries like footwear, fashion, and consumer electronics to adopt greener materials, accelerating the shift toward a microplastic-free world. Their technology supports upstream and downstream Scope 3 emissions reductions, aligning with corporate sustainability goals and global climate targets[1][4][5].
Looking ahead, Algenesis aims to scale production by bringing more processes in-house and expanding their product lines into new applications such as waterproof textiles and injection-molded goods. Trends shaping their journey include increasing regulatory bans on plastics, rising consumer eco-consciousness, and advances in bio-based chemistry. As they grow, Algenesis is poised to deepen its influence by enabling more brands to transition away from fossil-fuel-derived plastics, potentially transforming entire supply chains. Their commitment to scientific innovation and partnership-driven development positions them well to lead the sustainable materials revolution and help create a world without microplastics[2][4][6].
Algenesis has raised $5.0M across 1 funding round. Most recently, it raised $5.0M Seed in October 2023.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Oct 1, 2023 | $5M Seed | First Bight Ventures, ROB Kaplan | Greylock, Launchpad Capital, Quiet Capital, Rally Ventures, Staenberg Venture Partners, Garrett Smallwood, Diamond Sports Group, MIH Capital, Rhinoshield | Announced |