US ingredient maker P2 Science has closed a $23m funding round to expand its beauty and personal care portfolio and entry into performance polymers, home care, coatings, and crop care.
The Woodbridge, Connecticut company attracted new investors Emerald Technology Ventures and GS Futures, who joined the round alongside existing backers including Lewis & Clark Partners, DSM-Firmenich, Connecticut Innovations, Elm Street Ventures, Chanel, BASF, and Safer Made.
P2 said the participation from both new and returning partners reflects growing confidence in its commercial traction, proven innovation leadership, and the scalability of its green chemistry platform.
“This milestone validates the strength of our technology and the urgency of global demand for clean, scalable manufacturing solutions,” said CEO Oihana Elizalde.
“With this new funding, we are positioned to supercharge our beauty business and bring real green chemistry solutions to entirely new industries,” she added.
The funding round was led by Sofinnova Partners, a leading European life sciences venture capital firm with offices in Paris, London and Milan.
The financing continues a period of significant commercial and scientific momentum for P2.
The company was named to Fast Company’s annual list of the World’s Most Innovative Companies in both 2025 and 2026 and was recently selected for L’Oréal’s €100m ($116m) sustainable innovation accelerator, L’AcceleratOR.
P2 also launched two breakthrough beauty ingredients, Citrolatum P, a 1:1 plant-based replacement for petrolatum, and CitroComplex Nourish, a high-performance natural oil blend for skin and hair care and entered a strategic partnership with Algenesis to develop 100% biobased, biodegradable polyurethanes.
Most recently, P2 was awarded $2.8m in non-dilutive funding from the US Department of Energy’s ARPA-E to accelerate catalyst innovation through AI-enhanced autonomous laboratories.
