Segetis, a US-based renewable chemicals company, has raised $25.5m in its series C round from a consortium including a Saudia Arabia-based peer’s corporate venturing unit.
Saudi Basic Industries Corporation (Sabic) Ventures led the C round, which also included venture capital firm Khosla Ventures, state-backed Malaysia Life Science Capital Fund (MLSCF), and Netherlands-based industrial group Royal DSM’s corporate venturing unit and another new investor, Malaysia-based PNB Equity Resource Corporation.
Segetis previously raised $17.2m in January 2010’s B round from MLSCF, which is managed by US investment bank Burrill, DSM Venturing and Khosla. Khosla had led the $15m A round in April 2007.
Hans Kolnaar, managing director of Sabic Ventures, has joined Segetis’s board and said: “Innovative materials are critical to the evolution and success of the specialty chemicals and polymers industry.
“Segetis has game-changing technology with the capability and experience to deliver those breakthrough solutions to the market.”
