L’Oréal and Evonik join $38.6 million funding round… | kbnmart

French cosmetics company L’Oreal said on Thursday it had joined a 35 million euro ($38.6 million) funding round for Apules Biotechnologies alongside specialty chemicals group Evonik, as part of a deal to develop bio-based ingredients for beauty products.

Abolis, a French startup specializing in the use of microorganisms, is based at Genopole – a biotechnology research center in Evry, south of Paris. Since its funding in 2014, it has raised €1.1 million.