L'Oréal invests in Abolis Biotechnologies. The French group and Evonik have participated in a €35 million financing round in Abolis Biotechnologies, a French startup based in Genopole.
The investment will enable Abolis to enhance and expand its biomanufacturing operations, accelerate and develop its entrepreneurial efforts and also create and develop its own product lines while expanding the activities of Mirobiome Studio, its business unit dedicated to deciphering and engineering its ecosystems.
The investment goes hand in hand with a new industrial partnership between Abolis, L'Oréal and Evonik to jointly pursue the most unique market innovations in the cosmetics and health sectors.
According to L'Oréal, the deal will enable the production of sustainable ingredients at the scale needed to meet global demand for responsible beauty and accelerate the sustainability commitments of L'Oréal for the Future, which prioritises organic ingredients in its beauty formulas.
The deal was led by L'Oréal Bold, the French cosmetics group's venture capital fund dedicated to investing in biotech startups.
Other companies that have participated in this financing round have been, on the one hand, the German company DeepTech & Climate Fonds, Clay Capital, from Singapore and Icos Capital, from the Netherlands.