BOLD, the venture capital arm of L’Oréal, has acquired a minority position in the French biotech Microphyt. To generate microalgae, the business has devised a new low-carbon technology. Microalgae are microscopic plant creatures that are employed in cosmetics and other sectors for their active and functional features. L’Oréal and Microphyt will form a long-term relationship to create new sustainable cosmetic solutions.
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This collaboration is the latest in a series of important alliances formed by L’Oréal to build their pioneering Green Sciences ecosystem, Beauty. Microphyt has expedited the development and commercialisation of natural substances for nutrition and cosmetics after completing one of the largest fundraisings in its industry in 2019 with Bpifrance through its SPI fund and Sofinnova Partners.
