(Yicai Global) March 16 -- The investment arm of German chemicals giant BASF has bought into Bota Biosciences, the Chinese developer of a proprietary new-generation industrial biotechnology platform, the unit said today, without disclosing the amounts involved.

Bota Bio’s highly innovative platform has the potential to shape the future progress of the chemicals industry, said Markus Solibieda, managing director of BASF Venture Capital.

BASF is interested in incorporating industrial biotechnology, which uses living cells and enzymes to make a wide variety of products for the chemicals, food, pharmaceutical and agricultural sectors, in the making of chemical building blocks from renewable raw materials such as sugar and plant oils.

With our investment in this promising young company, we are strengthening Ludwigshafen-based BASF’s activities related to sustainability and enhancing the group’s potential for innovation in the dynamic Asian markets, Solibieda said.

“We welcome this support in scaling up our processes and launching new products,” said Bota Bio Chief Executive Officer Cheryl Cui.

Bota Bio, set up in Hangzhou, eastern Zhejiang province in 2019, raised USD15 million in Series A funding last September, led by US private equity firm Matrix Partners and Chinese internet giant Baidu.

Editor: Kim Taylor