Ecovia Renewables, Inc., an Ann Arbor, Mich.-based biotechnology company, raised an initial $1m seed funding round.
The company intends to use the capital to fund near-term R&D, product development, and bioprocess scale-up activities.
Backers included Seppic Inc., a member of the Seppic Group, a designer and manufacturer of specialty ingredients. With this investment, Caroline Drouart joined Ecovia as a Board Director.
The company and Seppic have also signed a multi-year joint-development agreement. Under the deal, the two parties will co-develop a suite of biobased and biodegradable polymers for topical applications in the health and beauty markets. Similarly, Seppic will have exclusive marketing rights to products made using Ecovia’s technology, a proprietary fermentation platform,
Founded in 2014 by Dr. Jeremy Minty and Dr. Nina Lin, Ecovia Renewables is a biotechnology company focused on the research and development of high-performing biobased chemicals and fuels.