Mogic Bio Announces Completion of $80M+ Series B Funding to Advance Industrialization of Bio-Based Manufacturing

Recently, bio-manufacturing company Moga Biotech completed a Series B financing round of over $80 million. The round was led by Temasek, with participation from Sento Investment, LYZZ Capital, and others. Existing shareholders, including Green Spring Ventures and FoodX Capital, continued their support. The proceeds will be used to advance the industrialization and commercialization of Moga Biotech’s core bio-based products, as well as to fund R&D for new product pipelines and expand its team.

After a century of rapid development, the traditional petrochemical industry has provided a wealth of petroleum-based products for various aspects of human life, including clothing, food, housing, and transportation, as well as for industrial production. Although petroleum-based products have significantly improved people's living standards, they have also led to serious environmental and social issues, such as greenhouse gas emissions and environmental pollution. To achieve sustainable development, there is an urgent global need to produce greener and safer chemicals and materials through approaches such as restructuring production processes using renewable raw materials or synthetic biology technologies.

For many years, Mojia Bio has been dedicated to developing green and sustainable biomanufacturing methods to replace traditional chemical production technologies that are highly polluting and energy-intensive. Leveraging its innovative platforms for enzyme engineering and metabolic pathway engineering, along with its interdisciplinary advantages, Mojia Bio has completed process development for multiple bulk chemicals and advanced them into the industrialization phase. The company’s Viridimin^®The vitamin B5 product series achieved mass production in June 2022. Compared with conventional processes, Mojia Bio’s biomanufacturing approach not only reduces energy consumption and emissions but also mitigates the risk of environmentally mandated shutdowns—a frequent challenge for the industry amid increasingly stringent environmental regulations in China—thereby ensuring more robust supply continuity. The second product area poised for commercialization by Mojia Bio is Aliphane.^®A series of bio-based polymer products, widely used in the coatings and adhesives sectors, boast a huge market.

Ansen Chiew, Co-founder of Moja BiologicsStatement: As an international biomanufacturing company, Mogujia Bio has, through over a decade of team accumulation, established comprehensive core R&D platforms in biology, chemistry, engineering, and polymer science, along with industrialization capabilities encompassing large-scale manufacturing, sales, cross-industry collaboration, and multinational partnerships. Mogujia Bio has not only achieved environmentally friendly and green processes, but its products also offer cost and performance advantages over those derived from traditional methods. We extend our sincere gratitude to visionary and like-minded investors, including Temasek, Green Dynamics Capital, FoodX Ventures, and LYZZ Capital, for their steadfast support in contributing to sustainable development and carbon neutrality.

Zhou Huanda, Managing Partner at Shixin Capital, Investor in Series A and Series B RoundsMoja Team: The Moja team spans multiple disciplines, bringing together top talent from synthetic biology, chemistry, fermentation, sales, corporate management, and investment. Equipped with internationally leading bio-enzyme technologies, the team addresses traditional challenges in the chemical industry while significantly reducing costs. The company has already achieved industrial-scale production of vitamin B5, validating its technological pathway and cost structure. Next, it will launch bio-based new materials derived from renewable resources, breaking through previous technological bottlenecks. By replacing petroleum-based materials and reducing energy consumption during production, Moja aims to contribute to China’s goal of achieving carbon neutrality by 2060.

Bai Bo, Chairman and CEO of Green Action Capital, the lead investor in Series AIt is evident that bio-manufacturing represents the prevailing trend toward greening and deep decarbonization in the materials sector. In particular, the practical application and engineering of cutting-edge synthetic biology present significant opportunities for the industry, as well as substantial challenges. Moga Bio stands out as one of the few companies that have successfully integrated front-end R&D platforms for biosynthesis with engineering platforms, taking the lead in achieving mass production. Compared with traditional processes, Moga Bio’s technology significantly reduces various pollutant emissions and lowers energy consumption, fully embodying Green Dynamic Capital’s philosophy of green impact investing. We are delighted to partner with the company to promote cost leadership and green development in the new materials industry.

Mojia Biotech is a fast-growing, product-oriented biomanufacturing company dedicated to producing food additives and chemical products using renewable carbon sources and green processes. Its R&D operations and partner network span the globe, and it operates its own production facilities in China.

Temasek is a global investment company. As of March 31, 2021, its net portfolio value stood at S$381 billion (equivalent to US$283 billion, €241 billion, £206 billion, or RMB 1.86 trillion). Headquartered in Singapore, Temasek maintains 13 offices across nine countries worldwide. The Temasek Charter defines its three core roles as an investor, an institution, and a steward of assets, shaping its philosophy and mission to pursue excellence, fulfill its mandate, and benefit future generations. Temasek provides capital to drive development and is committed to empowering solutions that address major global challenges. Sustainability is the core principle underpinning all of Temasek’s actions. Actively seeking sustainable solutions, Temasek aims to overcome present and future challenges, seize investment opportunities, and help build a more sustainable future for communities at large.

Bits x Bites is a venture capital fund headquartered in Shanghai, focused on early-stage agri-food tech innovation projects in the Chinese market. Bits x Bites invests in startups with broad market prospects and disruptive technologies, including agri-food tech teams from both China and around the world. Its investment scope covers the entire agri-food industry value chain, ranging from upstream smart agriculture, disease prevention and nutrition for animal and plant agricultural products, to downstream technological innovations in human nutrition and health, alternative proteins, and related fields.

Green Dynamics Capital is a leading green impact investment firm in China. Established in 2016, it manages assets exceeding RMB 15 billion and focuses on equity investments in high-growth companies driven by green and digital technologies, spanning sectors such as clean energy, new materials, green advanced manufacturing, low-carbon transportation, and energy conservation and environmental protection.

Green Impact Capital is China’s first private equity fund to institutionalize ESG policies and quantitatively assess the green impact of its investment activities. Adhering to its mission of “Investing · Greening China · Influencing Asia,” the firm empowers technological innovation through capital, injects new green momentum into corporate development, and pursues a win-win outcome of financial returns and environmental benefits. With strong investment performance and market influence, Green Impact Capital has been repeatedly honored by authoritative institutions as a “Most Green-Impactful” and “China’s Best ESG Institution” private equity fund.