Microphyt raises funding to accelerate the commercialization of its microalgae-based solutions

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Type of post: NEWS IN BRIEF.

Microphyt announced a Serie B fundraising of €15 million. The funds will be used to accelerate both the new products development and the commercialization of the product portfolio as well as to increase production of Microphyt’s industrial platform in Baillargues (South of France) to meet customer demand. This investment was led by L’Oréal through its venture capital fund BOLD Business Opportunities for L’Oréal Development and supported by Microphyt’s current investors Bpifrance, through the “Sociétés de Projets Industriels” fund, Sofinnova Partners, IXO-Private Equity, Supernova Partners, IRDI and Sofilaro. 

Figure 1. Microphyt's Camargue photobiorectors (taken from the press release)

Microphyt launched successfully over the last 18 months 5 new proprietary ingredients, supported by scientific evidence. In Advanced Beauty, cosmetic actives ingredients like Renouvellance™, Luteana™ and Phycosi are increasingly used by cosmetic brands worldwide. In Novel Nutrition, Microphyt launched this month the only clinically-validated natural ingredient specifically designed for e-gamers in the dietary supplement market in the US, Gamephyt™, as well as Brainphyt™ a new ingredient that improves the well-being of the elderlies.

In addition of its own development roadmap, Microphyt will partner with L’Oréal to develop and produce specific microalgae-based solutions for cosmetics, hence contributing to L’Oréal’s corporate objective that 95% of its ingredients will be bio-sourced, derived from abundant minerals or from circular processes by 2030.

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