US-based natural gas conversion company Siluria Technologies secured $20m in series B funding on 27th September from investors including UK-based foundation The Wellcome Trust, which led the round.
Wellcome was joined in the round by Presidio Ventures, the corporate venturing unit of Japan-based conglomerate Sumitomo, Altitude Life Science Ventures, the venture capital fund representing the private equity group GF, and venture capital (VC) firms Alloy Ventures, ARCH Venture Partners, Kleiner Perkins Caufield & Byers (KPCB) and Lux Capital, all of which participated in the round as existing investors.
The firms all contributed to a round of funding, in October 2010, when Siluria raised $13.3m. Siluria’s $1.8m seed round, in September 2007, featured participation from Cambrios Technologies Corporation, as well as KCPB, Alloy and Arch. The three VC firms also contributed to Siluria’s $3.3m series A round, in June 2009.
Siluria claims to have pioneered a profitable methane-based alternative for producing chemicals traditionally derived from oil. Methane requires less power than petrochemical energy and produces less greenhouse emissions.