Biosyntia, a Copenhagen-based industrial biotech company, announced that it has raised €11.5M in a Series B funding round from 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.
How will the funding be used?
The investment will allow Biosyntia to enter the production phase of its natural and sustainable active ingredients, as well as expand the pipeline of products. The first product to be commercialised is bio-based biotin (vitamin B7), for use in dietary supplements, food, and beauty products.
“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”, says Martin Plambech, CEO of Biosyntia.
He continues “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.”
Delivering nature’s ingredients at scale
Founded by Andreas Laustsen, Hans Genee, and Morten O. A. Sommer, Biosyntia is an industrial biotech company delivering nature’s ingredients at scale both affordably and sustainably.
Biosyntia focuses on developing more natural and sustainable processes for active ingredients used in beauty and nutrition, such as vitamins, antioxidants, and similar ingredients reducing the use of petrochemically-based processes and driving a positive environmental impact.
The company has developed proprietary technologies such as Biosynthetic Selections, which dramatically reduce the risk, cost, and time of developing fermentation processes.
Currently, the company employs 20 scientists and business developers and operates from Biosyntia’s lab and offices in Copenhagen, Denmark. To date, the company today has several commercial partnerships, including collaborations with market players such as Givaudan and WACKER.
“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”, states Jowita Sewerska, Investment Director with ECBF.