Biosyntia has raised €11.5m ($11.6m) from a strong syndicate of experienced venture capital investors.
The round was closed with an investment from the European Circular Bioeconomy Fund (ECBF) and the two existing investors, Sofinnova Partners and Novo Seeds, the early-stage investment and company creation team of Novo Holdings A/S.
The investment will allow the company to enter the production phase of its first-of-its-kind, natural and sustainable active ingredients as well as expand the pipeline of products. The first product to be commercialised is a bio-based biotin (vitamin B7), for use in dietary supplements, food, and beauty products.
Biosyntia is an industrial biotech company delivering nature's ingredients at scale both affordably and sustainably. Using cutting-edge biotechnology and proprietary R&D tools and insights, the company is developing first-of-its-kind precision fermentation processes to replace fossil-based alternatives. Its vision is to develop a natural and environmentally-friendly production process of essential nutritional active ingredients, reducing the use of petrochemically-based processes and driving a positive environmental impact.
Vitamins and other ingredients should be produced from bio-based instead of fossil-based sources
The company today has several commercial partnerships, including collaborations with large market players such as Givaudan and WACKER.
"Our team is truly proud of the recognition this investment gives. The investment enables us to finally offer customers the first and only natural and sustainable alternative to what is available for them today", said Martin Plambech, CEO of Biosyntia. "With ECBF joining Sofinnova Partners and Novo Seeds as investors, we improve an already strong investor base. Combined with our promising pipeline of ingredients, we are in the making of a new, global fermentation-based ingredient producer that can challenge today's incumbents."
"We are very excited to strengthen ECBF's industrial biotech portfolio by joining with Biosyntia and its current investors in the story of a sustainable change that has a very strong commercial basis. Vitamins and other ingredients should be produced from bio-based instead of fossil-based sources, which unfortunately is usually not the case today. Biosyntia has a promising position to change that, starting with their B-vitamins programs, where the company already is a technology leader," added Jowita Sewerska, Investment Director with ECBF.
