PILI raises 15.8 M$ to accelerate its industrial scale-up

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Type of post: NEWS IN BRIEF.

PILI has announced today 15.8 M$ in Series A funding to accelerate its industrialization by producing the first tons of high-performance bio-based indigo. Bpifrance led this round through the fund Ecotechnologies 2, with participation from Famille C Participations and existing investors, such as Elaia Partners.

Since its creation in 2015, PILI's mission has been to develop and produce biobased dyes and pigments to reduce the environmental footprint of the color industry. Thanks to its hybrid technology combining industrial fermentation and green chemistry, the company offers an ecological and competitive alternative to petrochemical dyes and pigments. PILI aims to replace petro-based indigo by a high-performance bio-based indigo, drastically reducing oil dependence, and cutting CO2 emissions from its production by more than 50%.

The company has already secured several million euros of pre-orders of biobased dyes and pigments in the textile, ink, and paints sectors. Its focus is now on delivering product to its first customers and setting up a production unit. This demonstration unit will complement the industrial pilot that has been operational since 2022.

This funding round brings together several investors, including the fund Ecotechnologies 2, managed on behalf of the French government by Bpifrance as part of the France 2030 program. In addition, PILI welcomes new investors: the investment holding Famille C Participations and an Italian-based privately owned company, alongside existing investors: the PSL Innovation Fund of Elaia Partners, SOSV and the German business angel network Startupangels.de.

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