To speed up its journey to commercial readiness, Singapore-based startup Greenitio, which is creating functional biopolymers for use in cosmetics and specialty chemical applications, has raised $1.5 million in seed funding.
In a statement released last Friday, the company stated that SGInnovate led the round, with Better Bite Ventures, Silverstrand Capital, and a number of current investors and angels from the chemicals and cosmetics sectors also participating.
Greenitio intends to use the new investment to increase production, move forward with regulatory approvals, and deepen business ties with multinational chemical and cosmetics firms.
“This fundraise gives us the runway to move from lab-scale proof to real-world deployment, supported by strong interest from formulation, sustainability and innovation teams across both the personal care and industrial value chains,” said Dr. Amit Kumar Khan, Chief Executive Officer and Co-founder, Greenitio.
In order to create sustainable bio-based polymers that can directly replace microplastic- and petrochemical-based ingredients used in cosmetics, personal and home care products, and specialty chemical applications, Greenitio was founded in 2021 and has since developed a proprietary, patented green chemistry process.
The water-based approach achieves about three times the cost-efficiency of equivalent bio-based alternative ingredients, eliminates chemical waste, and reduces carbon emissions by up to 87% when compared to conventional chemistry.
The procedure produces cationic, tunable, high-performance biopolymers that can be easily added to formulation systems that are compatible with emulsions, water, and oil.
They also provide a number of advantages, such as film formation, deep moisturization, SPF enhancement, anti-inflammatory properties, and active ingredient delivery. They are mainly derived from fungal chitosan.
For skin, sun, and hair care applications, the company’s flagship biopolymer lines, ChitosolaTM, ChitobeTM, and ChitobelaTM, offer multifunctional performance.
The Inventory of Existing Cosmetic Ingredients in China (IECIC) has registered all three, and they are already included in the International Nomenclature of Cosmetic Ingredients (INCI).
In the meantime, a number of other materials are moving from R&D to pilot production in order to satisfy market demand.
“Innovation is central to the global push toward decarbonization, and we remain committed to supporting companies like Greenitio that harness emerging technologies to build a more sustainable future,
“We look forward to partnering with the company to support its growth, as it scales to drive the adoption of cleaner alternative ingredients across major global industries,” said Hsien-Hui Tong, Executive Director – Investments, SGInnovate.
