Dalan Animal Health – a pioneering biotech company in insect health – recently announced the successful closure of a $4.5 million Series Seed 3 funding round. This funding round was led by Prime Movers Lab with participation from At One Ventures, bringing Dalan’s total funding to $10 million.
The additional funding round will enable Dalan to expedite its product pipeline and expand its operations beyond the United States. And with the largest honeybee sector residing in Europe, boasting 20 million hives compared to the US’ 2.67 million, the global need for sustainable solutions in bee health is evident. Plus Dalan is committed to making its groundbreaking technology available where it is most needed, as swiftly as possible.
The recent approval of Dalan’s first-of-its-kind honeybee vaccine by the USDA has highlighted the global interest and pressing need for sustainable solutions in the industry. And the vaccine – which was designed to protect honeybees against the devastating American Foulbrood disease – is set to improve the health and productivity of honeybee colonies, thus increasing yields for farmers who rely on pollination for their crops.
The honey bee vaccine, manufactured by Diamond Animal Health (Des Moines, IA), a wholly-owned subsidiary of Heska (NASDAQ: HSKA) will initially be distributed on a limited basis to commercial beekeepers and queen producers.
KEY QUOTES:
“Dalan’s innovative approach to insect health represents a significant market opportunity. Their pioneering work in developing the world’s first honeybee vaccine has the potential to transform the agricultural sector and secure the global food supply.”
— Dakin Sloss, Founder and General Partner of Prime Movers Lab
“Most of terrestrial biomass is plants, and most of those are flowering plants. The first vaccine to protect this commercially critical pollinator is a significant stride for protecting both biodiversity and our food supply.”
— Tom Chi, Founder of At One Ventures
“We are excited to accelerate our product pipeline and expand our reach globally. Our work is vital for sustainable agriculture, and this funding will help us bring our solutions to where they are needed most.”
— Annette Kleiser, CEO of Dalan Animal Health
