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). 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.” – 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.” – 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.”- Coppelia Marincovic, Partner at Syensqo Ventures
About Syensqo
Syensqo is a science company developing groundbreaking solutions that enhance the way we live, work, travel and play. Inspired by the scientific councils which Ernest Solvay initiated in 1911, we bring great minds together to push the limits of science and innovation for the benefit of our customers, with a diverse, global team of more than 13,000 associates in 30 countries.
Our solutions contribute to safer, cleaner, and more sustainable products found in homes, food and consumer goods, planes, cars, batteries, smart devices and health care applications. Our innovation power enables us to deliver on the ambition of a circular economy and explore breakthrough technologies that advance humanity.
About Syensqo Ventures
Syensqo Ventures is the Venture Capital fund of Syensqo, through which Syensqo invests in early-stage startups globally that address major human challenges associated with resource scarcity, climate change and quality of life. The Venture Capital fund acts as an accelerator, providing opportunities for collaboration, innovation and growth for both the startup and Syensqo.
Learn more at https://www.syensqo.com/en/innovation/syensqo-ventures.
Source
Syensqo, press release, 2024-01-25.
Supplier
Bioeutectics
Genesis Consortium / SOSV Consortium
IndieBio
Syensqo
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