With the industrialisation of the first biobased high-performance pigment production, PILI is opening a new chapter in the history of color productionToulouse, March 21st 2021. PILI, the leading company developing renewable colors, will start the industrialization of the first biobased pigments for paints and inks with a new 4 million euros ($4,7 M) financing round - bringing the total amount invested since its creation to 10 million euros ($12 M). This industrialisation phase is funded by PILI's historical investors (including SOSV, Elaia and seasoned entrepreneurs), a German Business Angel network and also benefits from the French Recovery Plan which aims to relocate strategic industrial activities while respecting the Paris Agreement.PILI is on track to become the world leader in biobased dyes, with a strategic alliance between biology and sustainable chemistry.This new funding will help scaling up the production of biobased pigments and testing them in industrial ink and paint formulations. These products will considerably reduce the environmental footprint of these applications. By using local renewable raw materials (the French territory being rich in biomass - straw, oil, molasses), these processes will make it possible to significantly reduce the color industry's CO2 emissions on a global scale as well as the use of fossil materials (oil, coal). They will also make it possible to reduce the strong dependence of several industrial sectors on Asian imports while recreating a European supply.About PILIPILI is the leading company developing biobased dyes and pigments. Its unique fermentation and sustainable chemistry processes enable the production of high performance and environmentally friendly colors.Its technology has the potential to get rid of petroleum and polluting chemicals involved in the production of colors in textile, plastic, paint and ink sectors.Founded in 2015, PILI is based at Toulouse White Biotechnology (TWB) and at the Conservatoire National des Arts et Métiers (CNAM) in Paris. The team now consists of more than twenty people, the company has invested over €10 million since its creation thanks to public and private investors such as BPI France, SOSV, Elaia, seasoned entrepreneurs and many individual investors.Press contact : contact@pili.bio