Micropep Technologies, a global leader in micropeptide crop protection technologies, announced it has successfully closed its Series B funding round with an additional $11 million commitment. This funding round, from new investors Corteva (through its Corteva Catalyst platform), Sparkfood SA, and all existing investors brings the total Series B round to $40 million and elevates the company’s total funding to over $60 million.
The funding will propel ongoing support for Micropep’s pipeline of sustainable micropeptide solutions by utilizing the power of its proprietary discovery platform, Krisalix, to develop affordable, effective crop protection solutions.
Micropep’s proprietary discovery platform Krisalix enables researchers to discover new micropeptide molecules seamlessly and rapidly for more efficient and environmentally friendly crop protection compared to traditional methods used within the industry. And Krisalix, a robust screening tool, measures efficiency, stability, and production feasibility by combining proprietary micropeptide design algorithms with a unique suite of bioassays.
Corteva (through its Corteva platform) collaborates with entrepreneurs and innovators to accelerate the development of early-stage, disruptive technologies that enable farmers to sustainably produce more food and feed.
Sparkfood (a subsidiary of Sonae), a multinational Portuguese holding company backed by a long-term value-driven family. Sparkfood funds and fuels next-generation of food companies towards a sustainable, healthier future. And Micropep’s addition to Sparkfood’s portfolio highlights their commitment to invest in food impact companies in all sectors from the farm to the table.
Micropep’s success has been the demonstrated ability to offer novel crop protection options for farmers. And micropeptides are unique in that they combine new modes of action, have a great safety profile, offer strong efficacy in the field at an affordable cost for farmers, and offer a solution to the increasing resistance to traditional chemical alternatives.
Micropep is positioned to offer an entirely new category of sustainable crop protection active ingredients based on micropeptides to the industry, working collaboratively with select partners throughout the different stages of the product development lifecycle.
This $11 million in supplemental financing will extend Micropep’s ability to solidify a position in the market, strengthen existing partnerships, and build new relationships with leading R&D, manufacturing, commercial, and distribution companies within the industry. This will enable Micropep to grow the company and bring micropeptide-based products to as many farmers as possible worldwide.
KEY QUOTES:
“On the heels of the initial raise of $29 million for this round, this increased investment in Micropep will accelerate our time to market. We are grateful to our incoming investors, Corteva and Sparkfood, for their partnership and confidence in our ability to be a new hope for sustainable agriculture for future generations.”
-Thomas Laurent, Chief Executive Officer and co-founder of Micropep
“Micropep is helping shape the accelerated delivery of sustainable innovation through their micropeptide crop health solutions, and we’re excited to stand with Micropep among the leading investors in this funding round. The technologies they are developing—particularly as leaders in the peptide space—complement Corteva’s own leadership in biologicals and natural products and are crucial for the expansion of environmentally friendly and effective crop protection solutions.”
-Tom Greene, senior director at Corteva and global leader for Corteva Catalyst, the company’s investment and partnership platform
“We see the combination of three pillars of innovation built by Micropep to produce micropeptide-based biosolutions as a major breakthrough in the industry. Between an AI tool, a platform approach capable of producing multiple end applications from various modes of action, and a low-cost and scalable production approach, we believe Micropep is well positioned. Sparkfood will support the company over time through its market expertise, potential subsequent fundings depending on needs, and portfolio complementarity, including potential synergies with our latest investment, BCF Life Sciences, as both companies are tackling the bio-inputs space through different approaches.”
-Anouk Veber, Head of Ventures at Sparkfood
