SoftBank plows $400mn into synthetic bio firm Zymergen

Bloomberg

Joshua Hoffman has done plenty of experimentation at Zymergen Inc., the robot-powered microbe factory he founded and leads.
By building an army of AI-powered robots to genetically engineer more efficient microbes — the biological building blocks used to create all material — Zymergen revamped existing agricultural and industrial products sold by Fortune 500 companies and helped them increase profits.
But it’s the work it has done independently that compelled return investor SoftBank Group Corp.’s Vision Fund to lead a $400 million round in the startup based in Emeryville, California.
“They are coming up with brand new materials,” said SoftBank Senior Managing Partner and Zymergen board member Deep Nishar. He pointed to products such as catnip-inspired insect repellent and sunscreen that doesn’t harm coral reefs developed by the startup that already have been tested on a limited basis on humans.
While SoftBank’s initial investing thesis included Zymergen’s ability to create novel materials, he expected it to happen in 2021 or so, not nearly so quickly.
“We didn’t expect them to achieve this so quickly,” he said.
Like Ginkgo Bioworks, Bolt Threads and Impossible Foods, Zymergen is part of a synthetic biology boom thanks to overlapping advances in biology and computer science. But scientific breakthroughs come with extra responsibilities.
The recent round, which brings Zymergen’s total funding to $535 million, will allow it to double its capacity to serve global clients, invest in engineering novel materials and begin commercialising products it has invented.