Synovance

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.