Biosynthetic Technologies: Raises $7.5M in Series A-1 Funding

Biosynthetic Technologies Raises $7.5M in Series A-1 Funding

• Biosynthetic Technologies, an Indianapolis IN-based biotechnology company, raised $7.5M in Series A-1 funding
• The round was led by HG Ventures
• The company intends to use the funds to scale operations, sales and manufacturing, support work on global regulatory compliance, and enable a deeper lifecycle assessment
• The money also helped fund BiosyntheticTechnologies’ acquisition of Innoleo®, LLC, a distributor of quality Oleo derivatives
• BiosyntheticTechnologies provides biobased synthetic compounds called Estolides that are made from organic fatty acids found in various bio-derived oils
• In addition to their high-performance properties, these renewable oils are biodegradable and nontoxic