P2 Science Raises $23M in Funding Led by Sofinnova Partners

The round included new investors Emerald Technology Ventures and GS Futures, along with continued support from existing investors such as Lewis & Clark Partners, DSM-Firmenich Ventures, Connecticut Innovations, Elm Street Ventures, Chanel, BASF, and Safer Made.

The company plans to use the funding to grow its beauty and personal care ingredients business and expand its green chemistry platform into new markets such as aroma technologies, performance polymers, home care, coatings, and crop care.

The funding comes at an important time for sustainable and advanced manufacturing. As demand grows for higher-performing and more sustainable products, and industries move away from petrochemicals, P2 Science is positioned to expand with its proven beauty ingredients business, green chemistry technology platform, and scalable manufacturing capabilities.

The company is supported by strategic and financial investors, along with federal non-dilutive funding, helping it grow as a next-generation chemistry company focused on performance, sustainability, and scale.

The financing follows a period of strong commercial and scientific growth for P2 Science. The company was named to Fast Company’s list of the World’s Most Innovative Companies in both 2025 and 2026 and was recently selected for L'Oréal’s €100 million sustainable innovation program, L'AcceleratOR.

P2 also introduced two new beauty ingredients: Citrolatum® P, a plant-based alternative to petrolatum, and CitroComplex® Nourish, a natural oil blend for skin and hair care. The company also partnered with Algenesis to develop fully biobased and biodegradable polyurethanes.

Most recently, P2 received $2.8 million in non-dilutive funding from the United States Department of Energy’s ARPA-E program to advance catalyst innovation using AI-powered autonomous labs.

Read More:Arsenal Capital Partners Adds Veteran Technology Investor Bradley Brown as Investment Partner

"This milestone validates the strength of our technology and the urgency of global demand for clean, scalable manufacturing solutions," said Oihana Elizalde, CEO of P2 Science. "With this new funding, we are positioned to supercharge our beauty business and bring real green chemistry solutions to entirely new industries. We are deeply grateful to our existing investors, whose continued partnership has been instrumental in getting us here, and we are thrilled to welcome Sofinnova Partners, Emerald Technology Ventures, and GS Futures to the P2 family as we begin this next chapter of growth."

"P2 Science has demonstrated that green chemistry can compete on performance not just sustainability credentials. The commercial foundation the team has built in beauty is strong and the platform has real reach into adjacent markets. We are excited to support this next phase of growth," said Michael Krel Partner at Sofinnova Partners.

About P2 Science

Founded in 2011 by Patrick Foley, P2 Science is a green chemistry company co-founded with Paul Anastas at the Yale Center for Green Chemistry and Green Engineering. The company develops and manufactures renewable specialty ingredients for the personal care, flavor and fragrance, and performance materials industries. Using the 12 Principles of Green Chemistry, P2 creates proprietary chemical processes and sustainable products inspired by natural chemistry while delivering high performance at commercial scale.

Read More:ORCA Computing Expands at Digital Realty Lab in London