Monday, March 12, 2012

Allylix Raises $18.2M

San Diego-based Allylix, developer of chemicals used for the flavor and fragrance, food, cosmetics, and other markets, has raised $18.2M in a funding round, according to lead investor BASF Venture Capital GmbH. According to BASF, it invested $13.5M in Allylix, with the remainder of the round coming from existing investors Tate & Lyle Ventures, Avio Ventures, and Cultivian Ventures. Allylix is developing a platform to product renewable specialty chemicals, particularly terpenes, which are used for flavor and fragrances. The firm says its technology allows for creating compounds which were previously only available from natural resources in limited quantities. More information »

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