Biosynthetic Technologies, an Indianapolis, IN-based developer of biobased synthetic molecules that are made from organic fatty acids found in plant oils, completed a Series A round of financing of undisclosed amount.
The round was led by HG Ventures. In conjunction with the funding, John Glushik, Managing Director of HG Ventures will join BT’s Board of Directors.
The company intends to use the funds to grow their sales and marketing efforts.
Led by Mark Miller, CEO, Biosynthetic Technologies (BT) is developing, manufacturing, and selling a new class of biobased synthetic molecules that are made from organic fatty acids found in plant oils. These functional “biosynthetic” oils have numerous uses in the lubricant, chemical, and cosmetics industries, often outperforming their petroleum counterparts in similar applications.
In addition, these renewable oils are biodegradable and nontoxic.