Dark
Light
Today: May 22, 2024
January 9, 2024
1 min read

FA Bio: Revolutionizing Agriculture with €61m to Save Our Environment

TLDR:

  • British biotech company FA Bio has secured €6.1 million in funding to minimize the environmental impacts of agriculture.
  • The funding round was co-led by Clean Growth Fund and Pymwymic, with investment from Ship2B Ventures.
  • FA Bio is developing microbial bio-products that improve soil health and boost crop production, replacing chemical inputs in agriculture.
  • The investment will support the commercialization of FA Bio’s technology and further research and development.
  • Harpenden-based biotech company FA Bio has secured €6.1 million ($7.4 million) in funding from venture capital investment funds Clean Growth Fund, Pymwymic, and Ship2B Ventures. FA Bio aims to minimize the environmental impacts of agriculture by developing microbial bio-products that improve soil health and boost crop production, thereby reducing the reliance on chemical inputs. The funding will be used to support the commercialization of FA Bio’s technology and further research and development efforts.

    FA Bio, based at the Rothamsted Research Centre in Harpenden, is focused on the discovery and development of superior microbial bioproducts, including biocontrols, biostimulants, and biofertilizers. The company uses its innovative SporSenZ technology to collect data and microbial isolates from agricultural fields and then develops the most promising microbes into agricultural bioproducts for important crops. This approach aims to replace chemical inputs in agriculture, ultimately reducing the sector’s environmental impact.

    Dr. Angela de Manzanos Guinot, CEO of FA Bio, highlighted the urgent need for more sustainable agricultural practices: “Intensive agriculture and overuse of agrochemicals have contributed to a 70% biodiversity loss in the past 50 years, which has been made worse by the damaging effects of climate change – drought, soil warming, and higher levels of CO2. Our innovative technology and game-changing bioproducts have the potential to boost crop productivity and provide a natural alternative to chemical fertilizers, protecting the world’s natural ecosystems.”

    The latest funding round demonstrates the growing financial commitment to the bio-tech sector, with VC funds across global markets recognizing the potential for sustainable agricultural solutions. The investment will support FA Bio’s commercialization efforts, ongoing research work, and team expansion. The company plans to accelerate its research and development activities to bring its bio-products to the market.

    The Clean Growth Fund, Pymwymic, and Ship2B Ventures expressed their excitement to support FA Bio. Dr. Jonathan Tudor, Investment Partner at Clean Growth Fund, commented: “We are delighted to be investing in the UK bio-tech sector and excited by the carbon emissions reduction that FA Bio’s technology can achieve in the agriculture sector.” Sophie Pickering, Investment Manager at Pymwymic, added: “We truly believe FA Bio’s innovative discovery method promises game-changing products for sustainable agriculture. We’re thrilled to support them in their journey of creating greater impact.”

    This funding round marks Pymwymic’s fifth investment, Clean Growth Fund’s third investment in the UK bio-tech sector, and Ship2B Ventures’ third investment in the agrifood space. The investors are confident in FA Bio’s mission to revolutionize sustainable agriculture and are committed to supporting the company in achieving its goals.

    Previous Story

    Million-Dollar Boost: Startup Karkhana Raises $63M for Success

    Next Story

    Sequoia Capital Outperforms Expectations, Allocates $10B to Investors in 2023

    Latest from Blog

    Go toTop