Bioeutectics, an Argentine biotech startup that specializes in developing environmentally friendly solvents, raised $2.1 million in funding led by Fen Ventures and Atento Capital. GridX, Syensqo Ventures, and IndieBio also participated in the round.
This investment will support its U.S. expansion to commercialize eco-friendly solvents and introduce its “green chemistry” innovations to a broader audience. Their vision is to reduce the world’s chemical environmental impact across various sectors.
“With this investment, we will continue to grow our team, scale our artificial intelligence platform to perfect our products and, most importantly, we will expand production to start selling this year,” Founder Tomas Silicaro commented.
Bioeutectics introduces advanced deep eutectic solvents, providing a sustainable and readily available substitute for traditional industrial solvents. The startup’s approach leverages natural compounds to produce solvents that are environmentally friendly and more easily accessible than traditional compounds.
Bioeutectics is part of a bigger global trend towards sustainable technology. The biotech startup has developed over 30 solvent products and plans to have the products in the market by spring 2024.
Read more at DFsud.com