Algenesis: Funding, Investors & Team (Oct 2026)
Our scientists redesigned plastic materials to harmonize with nature. Our patented Soleic™ technology is the world’s first high performance, renewable, and fully biodegradable plastic material made from algae. Algenesis was founded in 2016 by three professors from UC San Diego, Dr. Stephen Mayfield, Dr. Micheal Burkart, and Dr. Robert Pomeroy. Together they combined their knowledge and background and worked their way into the polymer market where customers had an unmet sustainability need. Traditional petroleum plastics are responsible for a tidal wave of air, land, and sea pollution that is destroying ecosystems and harming wildlife. Soleic™ technology was developed to address this global plastic pollution crisis. Our initial product line consists of soft foams for footwear and hard foams for surfboards. We continue to research new applications for Soleic™ technology. Algenesis is also developing new technologies with exciting product applications across multiple industries
Algenesis has raised $4.3M across 2 funding rounds on record, the most recent an undisclosed round of $3.0M announced in Oct 2024.
That round is below the $8.4M median round size for Biotechnology companies tracked on FundedIQ over the last two years.
Algenesis Company Profile and Key Stats
Latest funding round on record: Oct 2024.
Algenesis Funding Rounds
Algenesis raised $1.3M in an undisclosed round announced in May 2023.
1.4 years later, an undisclosed round of $3.0M was announced in Oct 2024.
Algenesis Founders and Leadership Team
Contact details for the Algenesis team: 2 of 2 have an email address on file.
Start 14-day free trial →Algenesis Funding Compared to Other Biotechnology Startups
Algenesis' latest round of $3.0M is below the median round in Biotechnology. Medians cover the last 24 months of disclosed rounds.
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Algenesis Funding FAQs
What does Algenesis do?
Our scientists redesigned plastic materials to harmonize with nature. Our patented Soleic™ technology is the world’s first high performance, renewable, and fully biodegradable plastic material made from algae. Algenesis was founded in 2016 by three professors from UC San Diego, Dr. Stephen Mayfield, Dr. Micheal Burkart, and Dr. Robert Pomeroy. Together they combined their knowledge and background and worked their way into the polymer market where customers had an unmet sustainability need. Traditional petroleum plastics are responsible for a tidal wave of air, land, and sea pollution that is destroying ecosystems and harming wildlife. Soleic™ technology was developed to address this global plastic pollution crisis. Our initial product line consists of soft foams for footwear and hard foams for surfboards. We continue to research new applications for Soleic™ technology. Algenesis is also developing new technologies with exciting product applications across multiple industries
How much funding has Algenesis raised?
Algenesis has raised $4.3M across 2 rounds on record. The most recent is an undisclosed round of $3.0M announced in Oct 2024.
When did Algenesis last raise funding?
Algenesis' most recent funding round on record is an undisclosed round of $3.0M, announced in Oct 2024.
Who founded Algenesis?
FundedIQ lists Stephen Mayfield (Founder), Tom Cooke (Founder) at Algenesis.
Where is Algenesis headquartered?
Algenesis is based in San Diego, California, United States.
How many employees does Algenesis have?
Algenesis is in the 11-50 employee band.
How does Algenesis' funding compare to other Biotechnology startups?
Algenesis' latest round of $3.0M is below the $8.4M median round size for Biotechnology companies on FundedIQ across 4,185 tracked companies over the last two years.
About FundedIQ's Algenesis Funding Data
FundedIQ tracks announced funding rounds and refreshes this profile every week. Round dates, stages and amounts are normalised to a single format, converted to US dollars, and de-duplicated: two records of the same round announced days apart are merged, and two genuinely different rounds are kept apart on the amounts they disclose. Amounts shown are the disclosed figures only — a round announced without a number is listed and excluded from the total rather than estimated.
Employee counts are reported bands, not exact headcounts. Founder and executive names carry the job title on record. Anything we do not hold for Algenesis is left off this page rather than filled in.
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