Agrosavfe raises 35 million EUR in Series C financing
Ghent, BELGIUM – 30 July 2019 – AgroSavfe NV, a rapidly growing and transformative Crop and Food protection company developing a new generation of protein-based biocontrols to protect food from farm to fork, today announces the closing of a Series C financing round.
AgroSavfe, a spin-off from the VIB (‘Vlaams Instituut voor Biotechnologie’) founded in 2013, has developed a unique and versatile technology platform for the design and development of novel protein-based biocontrols providing safe, sustainable and efficient protection for seeds, crops and food. With more than 100 field trials since 2017, the Company’s most advanced biofungicide has demonstrated strong performance, competitive with synthetic chemical solutions while offering absence of any residues. Agrosavfe’s solutions benefit the environment while adding more value to the farmers’ produce and meeting consumers’ demand for healthier food. Beyond the field, AgroSavfe’s product candidates also demonstrated strong impact on food protection and quality along the value chain, providing new solutions to reduce food loss.
The funds will be primarily used for the development, registration and commercial scale production of AgroSavfe’s biofungicide and bioinsecticide products and to continue to strengthen the company’s organization. The launch of its first biofungicide is scheduled for 2022 in the fruit and vegetables market in the US, immediately followed by a launch in Europe and other regions. In addition, the funds will support the accelerated development of the innovative pipeline with applications in critical food and crop pests and diseases.
See also the article 35 miljoen voor technologie die fruit en groenten beschemt tegen schimmels