L’Oréal has backed Chinese biotech start-up Veminsyn, betting on discovering new bioactive ingredients and localized supply chains.WHO: Veminsyn was founded in 2021 by Yaran Zhao, Jiayue Chen, Yufan Li, and Xiaomei Lin, doctoral students at Peking and Tsinghua University in Beijing. The technology company is focused on the research, development, and production of bio-based innovative raw materials using synthetic biotechnology to achieve a balance between performance and environmental sustainability. Its customers include C-beauty heavyweights such as Proya, Jahwa, and Bloomage.WHY: The investment will be used to “develop innovative bioactive ingredients, promote their large-scale production, and use low-carbon biomanufacturing technologies to develop cosmetic raw materials,” according to a post on Veminsyn’s WeChat official account.IN THEIR OWN WORDS: “At Veminsyn we are passionate about creating a world with more and more bioactives coming from sustainable sources,” Veminsyn's co-founder and CEO Yaran Zhao said. “We will have a winning partnership to accelerate new biotech sustainable ingredients to people all around the world,” he said.Vincent Boinay, President of L’Oréal North Asia Zone and Chief Executive Officer of L’Oréal China, said. “Veminsyn impressed us with their unique biotech capabilities, which we believe will be instrumental in developing new sustainable ingredients. We’re confident that leveraging the dynamism of the Chinese startup ecosystem will enable us to achieve this with unprecedented speed and efficiency.