Arcaea, a Company Launched on the Ginkgo Bioworks Platform, Announces $78M Series A To Build a New Foundation For the Beauty Industry through Expressive Biology

Rhea-AI Summary

On October 27, 2021, Arcaea, a company launched on the Ginkgo Bioworks platform, announced a $78 million Series A funding round aimed at revolutionizing the beauty industry through innovative biological products. The funding from notable investors like CHANEL and Viking Global will enable Arcaea to develop sustainable beauty ingredients using DNA sequencing and biological engineering. CEO Jasmina Aganovic emphasized the potential of biology as a tool for creative self-expression and sustainability in beauty, aiming to create a new supply chain that avoids petrochemicals.

Positive

• Raised $78 million in Series A funding from notable investors, enhancing growth prospects.
• Focus on sustainable ingredients development, reducing reliance on petrochemicals.
• Innovative product pipeline with unique functionalities such as proteins that can memorize hairstyles.

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• None.

BOSTON, Oct. 27, 2021 /PRNewswire/ -- Arcaea (Ar-kay-uh), a company launched on the Ginkgo Bioworks (NYSE: DNA) Platform, today announced its $78M Series A to build a new, regenerative future for the beauty industry through expressive biology—where biology is used as a creative tool for self-expression. Arcaea will grow new ingredients and product experiences for beauty by leveraging technology such as DNA sequencing, biological engineering, and fermentation to activate unique storytelling.

By culturing industry-leading, safe, and sustainable ingredients, Arcaea intends to create a new supply chain for the industry that does not rely on petrochemicals or on harvesting and depleting natural resources. This approach enables Arcaea to tap into the entire tree of life to develop new and previously unimagined or inaccessible ingredients using current practices. By harnessing the power of biology, Arcaea is poised to produce highly sustainable products that can deliver new functionality and performance across skincare, bodycare, haircare, and aesthetics.

Jasmina Aganovic, a chemical and biological engineering graduate from MIT, will lead Arcaea as CEO. She brings more than a decade of industry experience translating innovation in beauty through brands and products at various beauty companies, including Fresh and Living Proof and the innovative microbiome beauty company Mother Dirt, which changed the way we think about clean and healthy skin. Instead of stripping and sterilizing our skin, many now recognize the importance of the skin microbiome and the need for cosmetic products that benefit, balance, and enhance the population of microbes living on its surface. Jasmina saw the powerful role that biology can play in the cosmetics industry, which prompted her interest in creating tools to better realize its potential. She joined Ginkgo Bioworks as an Entrepreneur-in-Residence, where she spent the last two years building the foundation for Arcaea.

"Through Arcaea, we see biology as a creative tool that will drive the next generation of products and innovation. We can now access many more molecules on earth ethically and sustainably, and therefore can unlock unlimited and previously unimagined possibilities for beauty," said Aganovic. "By bringing together new advances in technology with designers, brand builders, and leaders from every point of the supply chain, we can spark a change across the entire ecosystem to create an industry that is reflective of the future we want to see for the industry."

Arcaea has raised $78 million in Series A funding from a consortium of strategic and financial investors including Cascade Investment L.L.C., Viking Global, CHANEL, Givaudan and Wittington Ventures. This Series A financing round brings together a mix of expertise across the value chain of the industry. It will enable Arcaea to initiate multiple technical programs across key categories in beauty to develop a pipeline of ingredients and brand launches and create a world of previously unimaginable possibilities in beauty, such as: a fragrance that no one on earth has ever smelled before; proteins that can memorize hair styles; contouring through skincare and not just makeup; and biological filters that protect skin from the elements.

"One of the most impactful things we can do at Ginkgo is support entrepreneurs and help them accelerate their timelines to make incredible things happen with biology," said Jason Kelly, co-founder and CEO of Ginkgo Bioworks. "We are thrilled to see Arcaea launch and begin its journey to deliver creative solutions to the beauty industry through biology."

About Arcaea (Ar-kay-uh)
Arcaea, LLC (Ar-kay-uh), a company launched on the Ginkgo Bioworks platform, with the mission to build a new foundation for the beauty industry through expressive biology. Arcaea sees biology as a valuable creative tool for self expression. The company will grow new ingredients and product experiences for beauty through technology such as DNA sequencing, biological engineering, fermentation and more. By culturing industry-leading, safe, and sustainable ingredients, Arcaea intends to create a new supply chain for the industry that does not rely on petrochemicals or on harvesting and depleting natural resources. By harnessing the power of biology, Arcaea is poised to produce highly sustainable products that can deliver new functionality and performance across skincare, bodycare, haircare, and aesthetics. Arcaea was incubated on the Ginkgo Bioworks platform and formed under the name Kalo Ingredients LLC.

About Ginkgo Bioworks
Ginkgo is building a platform to enable customers to program cells as easily as we can program computers. The company's platform is enabling biotechnology applications across diverse markets, from food and agriculture to industrial chemicals to pharmaceuticals. Ginkgo has also actively supported a number of COVID-19 response efforts, including K-12 pooled testing, vaccine manufacturing optimization and therapeutics discovery. For more information, visit www.ginkgobioworks.com.

Forward Looking Statements of Ginkgo Bioworks
This press release contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the potential of Ginkgo's cell programming platform. These forward-looking statements generally are identified by the words "believe," "project," "potential," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: (i) the effect of Ginkgo's business combination with Soaring Eagle Acquisition Corp. ("Soaring Eagle") on Ginkgo's business relationships, performance, and business generally, (ii) risks that the business combination disrupts current plans of Ginkgo and potential difficulties in Ginkgo's employee retention, (iii) the outcome of any legal proceedings that may be instituted against Ginkgo related to its business combination with Soaring Eagle, (iv) volatility in the price of Ginkgo's securities now that it is a public company due to a variety of factors, including changes in the competitive and highly regulated industries in which Ginkgo plans to operate, variations in performance across competitors, changes in laws and regulations affecting Ginkgo's business and changes in the combined capital structure, (v) the ability to implement business plans, forecasts, and other expectations after the completion of the business combination, and identify and realize additional opportunities, and (vi) the risk of downturns in demand for products using synthetic biology. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the "Risk Factors" section of Ginkgo's current report on Form 8-K filed with the U.S. Securities and Exchange Commission (the "SEC") on September 20, 2021 and other documents filed by Ginkgo from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Ginkgo assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Ginkgo does not give any assurance that it will achieve its expectations.

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SOURCE Arcaea

FAQ

What is the significance of Arcaea's $78 million Series A funding for Ginkgo Bioworks (NYSE: DNA)?

Arcaea's $78 million Series A funding enables the company to innovate in the beauty industry, utilizing Ginkgo Bioworks' platform for sustainable and creative biological solutions.

Who are the main investors in Arcaea's Series A funding round?

Key investors in Arcaea's Series A funding round include CHANEL, Viking Global, Givaudan, and Cascade Investment L.L.C.

What innovative products is Arcaea planning to develop?

Arcaea aims to create groundbreaking beauty products, such as skincare that contours and fragrances that have never been experienced before.

How does Arcaea plan to change the beauty industry's supply chain?

Arcaea intends to build a sustainable supply chain that avoids petrochemicals and relies on cultivating safe, innovative biological ingredients.