Abolis Biotechnologies Received Investment from consortium including L'Oreal's venture fund BOLD
Abolis Biotechnologies Received Investment from consortium including L'Oreal's venture fund BOLD
Transaction
Overview
Spayne Lindsay & Co is delighted to announce it has advised Abolis Biotechnologies, a high-growth provider of tailor-made industrial solutions based on micro-organisms for a wide range of industries – from food and healthcare to cosmetics and chemistry, on the tri-party investment from BOLD (L’Oreal’s corporate venture arm), EVONIK Venture Capital and Deep Tech & Climate Foods as lead investors.
This tri-party agreement with biotech innovator, Abolis Biotechnologies and global specialty manufacturer, Evonik, to enable the discovery, development and manufacturing of innovative and sustainable ingredients for beauty products and beyond. The agreement will enable purpose-made, sustainable ingredients to be produced at the scale needed to satisfy global demand for responsible beauty and accelerate the Groupe’s L’Oréal for the Future sustainability commitments that prioritize bio-based ingredients in its beauty formulations.
The agreement is bolstered by L’Oréal and Evonik’s respective minority investments in Abolis, a French biotech firm based in Genopole, with unique expertise in tailor-made industrial solutions based on microorganisms for a wide range of industries including cosmetics, healthcare and food. L’Oréal’s venture capital fund, BOLD, participated in the €35 million funding round which also includes Evonik CVC, Deep Tech & Climate Fund (DTCF), Clay Partners, Icos Capital and Liberset.
The investment will allow Abolis to expand its capabilities in the development of microbe-powered solutions that help industries transition to more sustainable business models. It marks a new, strategic phase in the L’Oréal-Abolis collaboration, which began in 2019 and led to an extended lab set-up in 2022.
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