Sophim accelerates global reach of natural cosmetic ingredients with €20M funding
13 Sep 2023 --- Sophim, a manufacturer of natural cosmetic ingredients, has completed a €20 million (US$21.5 million) funding round to finance its growth toward its target of developing from a small-to-medium firm to a mid-cap company.
This capital will be directed toward doubling the company’s production capacity at its two industrial sites and accelerate its international development.
A partner of Sophim since 2014, Smalt Capital is the only financial investor in this €4.5 million funding round (US$4.8 million), alongside banking support and funding in recovery bonds.
“We have found in Smalt Capital a trusted partner, who shares our values and supports our ambitions,” says Jacques Margnat, president at Sophim. “This investment will allow us to double our production capacity at our two industrial sites, to meet strong demand for our products, especially internationally. ”
“Beyond purely financial criteria, the human, collective and ecological dimension occupies a central place in Sophim’s corporate culture. We are confident in the company’s ability to build on its competitive advantages to establish itself as a leader in its field,” adds Julien Jorge, manager at Smalt Capital.
Ingredient portfolio
Founded in 1996 and based in Peyruis (Alpes-de-Haute-Provence), in France, Sophim’s ingredients are distributed in more than 60 countries, primarily across Asia.
Green cosmetics has been its focus. One of its flagship products, Phytosqualan, is a squalane that is 100% of vegetable origin, made from olives.
Developed in the company’s R&D laboratory, the production of squalane follows the principles of the circular economy, by recovering olive fatty acids, a raw material that had been poorly recovered.” Sophim has been tapping into a local supply of this ingredient to reduce its carbon footprint.
“In our rapidly growing environment, sustainable development must remain a priority,” says Alexis Margnat, managing director of Sophim. “Ecological responsibility is at our heart and has always been an essential element in the development of our business project.”
The majority of Sophim’s cosmetic products of natural origin are approved by the COSMOS label.
Edited by Benjamin Ferrer
