TAGS: Sustainability / Natural Cosmetics
Syensqo Ventures, the group’s venture capital fund, participated in the $2.1 million financing round for Bioeutectics, alongside Fen Ventures, Atento Capital, and SOSV (IndieBio).
The investment, made through Syensqo’s venture capital fund, will contribute to bring more sustainable products and processes to market.
Solvents that are Biodegradable, Non-toxic & Affordable
Founded in 2019, Bioeutectics provides natural and high-performance solvents that make industrial products and processes more sustainable. This new investment strengthens the existing partnership between Syensqo Ventures and the Genesis Consortium, supporting startups in the SOSV’s IndieBio startup development program, the #1 early stage biotech incubator.
Syensqo, through its Renewable Materials and Biotechnology growth platform, is driven by a strong commitment to develop more sustainable solutions in the food, agro, industrial, and biopharma sectors.
“We see a growing demand for efficient and environmentally friendly solvents, which can also be biodegradable, non-toxic, and affordable. Bioeutetics’ cutting-edge technology is at the forefront of solvent innovation, combining high-performance, quality, and sustainability that could bring real added value to Syensqo’s portfolio of products,” said Jean-Christophe Castaing, Global R&I director, New Technologies at Syensqo.
Based on pioneering technology - Natural Deep Eutectic Solvents (NADES), Bioeutetics mimics the way plants elaborate their own solvents, using 100% renewable sources. By replacing petrochemical-based solvents with natural alternatives, Bioeutectics provides solvents with an improved environmental, health, and safety profile that are aligned with and contribute to the achievement of sustainable development goals.
“
We are excited to have Syensqo onboard to help us bring these early stage innovations to the market. Syensqo’s expertise in solvents and formulation is key to our success,” said Tomas Silicaro, CEO of Bioeutectics.
“We are thrilled to partner with this enthusiastic team, who is working on the future of green solvents. Bioeutectics has developed not only specific products but also a platform to design these innovative solvents, increasing significantly the potential applications," stated Coppelia Marincovic, partner at Syensqo Ventures.
Source: Syensqo
