Allylix Raises $18.2M in Funding
Allylix Inc., a San Diego, CA-based renewable chemicals company, has raised $18.2m in funding.
The round was led by BASF Venture Capital GmbH, which has invested $13.5m, with participation from existing investors Tate & Lyle Ventures, Avrio Ventures and Cultivian Ventures.
The company intends to use the funding to develop and deliver new compounds in its pipeline, and expand the market for its existing products.
Led by President and Chief Executive Officer Carolyn Fritz, Allylix has a proprietary technology platform to produce a wide variety of renewable specialty chemicals, i.e. terpenes and their derivatives, for several industries including flavor and fragrance, food ingredients, cosmetics and other markets.