Heliae Gets $28.4M For Algae Technology

Gilbert, Arizona-based Heliae, which develops algae-based technology for the a wide range of industries, has raised $28.4M in a funding. The company said the funding came from the Mars family, conglomerate Salim Group via Agri Investments Pte Ltd., Thomas J. Edelman, as well as others. The company said the funding will go towards operation and expansion of its first commercial facility, which is also in Gilbert. The firm's algae products are initially being applied to the personal care and nutraceutical market. More information »