Biosynthetic Technologies has raised $7.5 million in a series A-1 funding led by HG Ventures, the corporate venture arm of The Heritage Group.
The money is being used to fund the company’s acquisition of Innoleo, a distributor of oleo derivatives, and to scale up its operations.
Biosynthetic manufactures a new class of biobased synthetic compounds called Estolides, which are made from organic fatty acids found in various bio-derived oils. They have applications in various industries, including personal care.
