In Argentina, Syensqo’s venture capital fund has made an undisclosed investment in green solvents startup Bioeutectics. Founded in 2019 and based in Mendoza, Bioeutectics provides natural and high-performance solvents that make industrial products and processes more sustainable.
“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,” said Jean-Christophe Castaing, Global R&I Director, New Technologies at Syensqo. The company was spun out of Solvay late last year.
The investment was part of a $2.1 million finding round that Fen Ventures, Atento Capital and SOSV (IndieBio) also participated in. The investment also strengthens the existing partnership between Syensqo Ventures and the Genesis Consortium, which supports startups in SOSV’s IndieBio startup development program.
