U.S.-based Solugen, a company that manufactures hydrogen peroxide from plant sugars, has raised $13.5 million in new financing.
The company secured the funds from investors including Founders Fund, Fifty Years, and Y Combinator.
Solugen will use the proceeds to construct a new, 2,500 modular facility, which will produce 5,000 tons of hydrogen peroxide per year.
To date, the company has nabbed a total of $23.2 million in over four funding rounds.