CHARLOTTESVILLE, VA, September 30, 2024 – AgroSpheres Inc. (AGS), a biotechnology leader in sustainable crop protection and crop health, today announced the final close of a $37 million Series B funding round led by Zebra Impact Ventures, which invests through the Regenerative Growth I strategy, run in partnership with Mirabaud Asset Management. The round also saw strong participation from existing investors Lewis and Clark AgriFood, Ospraie Ag Science Ventures, FMC Ventures, BIDRA Ventures and Cavallo Ventures, underscoring continued confidence in the company’s trajectory in establishing itself as a premier crop health company.
This new capital will support AgroSpheres’ end-to-end product development, investment in just-in-time biomanufacturing facilities, expansion into new markets and drive further development of its revolutionary AgriCell platform, designed to enhance field performance and meet the rising global demand for sustainable agricultural solutions.
“We are thrilled to have Zebra Impact Ventures lead this funding round and grateful for the continued support of our existing investors,” said Payam Pourtaheri, Co-Founder and CEO of AgroSpheres. “Impact is at our core and Zebra’s perspective will be critical in realizing our vision of a ’future built by nature’s technologies.’ This investment will allow us to scale our operations, advance our R&D capabilities and bring our breakthrough technology to farmers around the world. Our mission is to redefine the future of agriculture with products that offer powerful performance and environmental sustainability.”
AgroSpheres’ patented AgriCell technology is a highly scalable and cost-effective platform for the manufacturing of encapsulated biomolecules. Key agronomic features of AgriCell technology include:
- Stabilized biomolecules that deliver superior field performance across a broad range of environmental conditions.
- Fully biodegradable products with no microplastics or petrochemicals.
- Crop health products that safely degrade into organic carbon, nitrogen and phosphate that is restorative for plants and soil.
“AgroSpheres represents a new perspective that answers the call for sustainability in the way we farm and the way we build companies,” said Ameer Shakeel, Co-Founder and CTO of AgroSpheres. “We are deeply inspired by the work we are doing, the culture we are building and our partnering with Zebra around a shared, impact-driven vision. Building our manufacturing facilities, launching our products and forging strategic alliances are on the horizon.”
Lionel Artusio-Payot, Managing Partner of Zebra Impact Ventures, expressed enthusiasm about AgroSpheres’ potential to revolutionize the crop protection industry. “After spending time with the AGS team at their US base and completing our due diligence process, the founders’ talents and drive were clear to us. We believe their breakthrough technology provides the missing link in delivering reliable field performance and opening up new markets for high-performance biopesticides. We see it as one of the most important innovations in crop protection products in the last four decades.”
“We believe AGS represents a true game-changer for the entire biological industry, thanks to both its potential environmental impact and its strong potential to break new ground in terms of exit/valuation in the coming years, with multiple exit opportunities such as private equity deals, IPO and M&A,” said Pierre Jouve, Investment Manager of Zebra Impact Ventures. “We look forward to supporting AGS with impact and regulatory guidance as well as developing its presence in the EU market.”
With this significant Series B investment, AgroSpheres is well-positioned to push for growth as it launches products and expands partnerships with major industry players.
About AgroSpheres
AgroSpheres envisions a future built by nature’s technologies. Based in Charlottesville, VA, the company’s mission is to revolutionize agriculture with reliable and affordable biobased solutions. AgroSpheres’ deep pipeline of biomolecules and patented AgriCell platform facilitate the development of biological pesticides with multi-year shelf lives and high field efficacy. The company’s platform makes it cost-effective to deploy novel biomolecules, plant extracts, and small molecules in the field at significantly reduced doses. For more information, visit www.agrospheres.com.
Investing in partnership with Zebra Impact Ventures
Zebra Impact Ventures has formed a unique strategic partnership with Mirabaud Asset Management, the asset management arm of the Swiss family bank. Together, they have the expertise to deliver meaningful change and powerful impact performance. Regenerative Growth I, an SFDR Article 9 strategy, invests in growth stage tech-companies addressing the transformation of global food systems.
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AgroSpheres Media Contact:
Valerie Martin
Email: val@valphadog.com
Phone:+1 612-743-4013