Bioeutectics, an Argentinian biotech startup specializing in high-performance and environmentally friendly solvents, has secured a $2.1 million funding round led by Fen Ventures and Atento Capital. This investment will support the company’s growth plans, including team expansion, scaling of its AI platform for product refinement, and the commencement of sales later this year.
The technology developed by Bioeutectics enables the production of solvents entirely from renewable resources, offering applications across various industries such as agriculture, food, and cosmetics. Tomas Silicaro, Founder and CEO of Bioeutectics, expressed his excitement about the investment, highlighting the company’s focus on growing its team and refining its products through the use of AI technology.
In addition to funding, the investment will facilitate Bioeutectics’ expansion into the United States, with plans to establish a commercial office and applications lab in Tulsa, Oklahoma. Silicaro emphasized the alignment of Tulsa’s vision for sustainable growth with Bioeutectics’ objectives, making the U.S. market an ideal starting point for the company’s international expansion.
Through its natural eutectic technology, Bioeutectics mimics the process by which plants produce their own solvents using 100% renewable resources. The company boasts a portfolio of over 30 products, with several others undergoing testing.
Bioeutectics’ current focus includes trial products in food tech, agro tech, personal care, cosmetics, and sustainability. In the food tech sector, the company aims to enhance final products by replacing chemical stabilizers, preservatives, and solvents with natural ingredients that offer equal or superior performance. In agro tech, Bioeutectics seeks to replace petrochemical surfactants with natural and biodegradable alternatives. For personal care, cosmetics, and over-the-counter (OTC) products, the company aims to replace all petroleum-based solvents with natural solutions while enhancing the final products with additional features such as antioxidants, antifungal properties, and antimicrobial properties.
The company also offers sustainability products for environmental cleanup, including gas capture, waste treatment, water treatment, and recycling. These products are expected to be available this spring.
Lawrence Watkins, head of Tulsa investments at Atento Capital, expressed enthusiasm for investing in Bioeutectics, citing the company’s mission to revolutionize the solvent market with greener and more sustainable solutions. Olivia Valdés, bio venture partner at Fen Ventures, highlighted the versatility of Bioeutectics’ technology and its alignment with Fen Ventures’ investment thesis, which focuses on companies with scientific and technological foundations and global scalability potential.
Bioeutectics’ team, led by co-founder and CEO Tomas Silicaro, brings a wealth of experience in sustainable industrial supply chains. The scientific team, consisting of Fernanda Silva, Romina Canales, Sergio Pasini, and Federico Gómez, has filed three patents in the United States for their solvents and another patent for their AI platform, which optimizes the performance of solvent mixes.
The investment in Bioeutectics reflects a growing interest in sustainable solutions and underscores the company’s position as a leader in the field of sustainable solvents. With its innovative technology and strong team, Bioeutectics is poised for further growth and success in the global market.
(Source: Latam List | Tulsa World)
