Pili, a Toulouse, Haute-Garonne, and Paris, France-based biotechdye maker, raised (€3.6m) ($4m) in funding.
– Elaia via its PSL Innovation Fund,
– private investors,
– business angels,
– BPI France, and
– the French State.
The company intends to use the funds to strengthen its technological lead, fermentation and green chemistry processes, to produce high-performance biobased dyes and pigments.
Founded in 2015 in a biohackerspace, Rebel Bio alumni (SOSV) and member of Toulouse White Biotechnology (TWB) consortium and led by Jérémie Blache, CEO, Pili produces biotech dyes and pigments using proprietary fermentation technology. Its enzymatic process aims at manufacturing high-performance bio-based dyes and pigments to reduce the environmental impact of the textile industry. The company’s technology has attracted a lot of collaboration requests from brands, manufacturers and chemical companies.