Synovance

Synovance

Company  |
France, Bry-sur-Marne

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We are seeking to displace the toxic chemical dyes used in the textile and cosmetic industries with bio-produced eco-friendly dyes.

 

Problem:  The Fashion Industry is the second most chemical intensive in the world, responsible for 8% of the global Green House Gas emissions and 20% of the fresh-water pollution.  Global regulations are forcing industries to change this status quo.

 

A few facts about us:

 

Our company has been awarded the prestigious EU-EIC funding. 

 

💡 Product: Bio-produced Indigo dye, exact same molecule as the synthetic dye only eco-friendly. 

 

🌪️ Bio-indigo produces >10X less CO2 emissions compared to synthetic dye production

 

📈 Total Dyes Market: Over 38 B€ global

 

  Our Synthetic Genomic strain development platform is 5X faster and 10X cheaper than state of the art.

 

🚀 Traction: Set up and continuously run our 1000 Liter pilot plant for 8 months. Increased our production capacity 10X, product purity 4X, and reduced production costs 5X in the last 8 months

 

🎉 Customer demand: Paid POCs conducted with PureDenim & the world's largest jean brand, Testing/validation of product with 3 large cosmetic companies and 1 cosmetic ingredient distributor. 

 

👫 Founders: PhD degrees in life sciences, MBA degree, Industrial and financial experience.

 

 Fundraise: - Current round seeking 4 Mn€ equity

                      - Have identified 2 co-lead investors

                    - Support from EIB.

                    - Strong commitment for 500k€ from Luxembourg Family office.

                    - Still seeking investors to join the round

 

⏱ Timeline: Close the round in Q2 2025.  

 

 

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Synovance is now a member of the GREENHOUSE community.

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Efthimia Lioliou has joined Synovance

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Synovance is now a member of the EIC Ecosystem Partnerships and Co-Investment Support Programme community.

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Synovance is now a member of the EIC ACCESS+ community.

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Synovance has updated its fundraising

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Synovance is now a member of the EIC Scaling Club community.

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The pitchdeck document has been updated in the dataroom.

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Synovance has published fundraising documents