Pili, a Toulouse, France-based startup that came out of the IndieBio program and makes sustainable pigments and dies, notably for the textile industry, raised €4m in funding.
Backers in the round, which brings the total amount invested since its creation to €10m, included Elaia, SOSV and additional investors.
The company intends to use the funds to help scaling up the production of biobased pigments and testing them in industrial ink and paint formulations.
Founded in 2015 and led by Jérémie Blache, CEO, Pili is a company developing biobased dyes and pigments via fermentation and sustainable chemistry processes which enable the production of high performance and environmentally friendly colors.
Its technology has the potential to get rid of petroleum and polluting chemicals involved in the production of colors in textile, plastic, paint and ink sectors.
The company is based at Toulouse White Biotechnology (TWB) and at the Conservatoire National des Arts et Métiers (CNAM) in Paris.
The team now consists of more than twenty people.