Pluton Biosciences – a startup leveraging the power of microbes to create cost-effective innovative solutions that address sustainability challenges facing agriculture – announced the closing of a $16.5 million Series A funding round.
This funding round was co-led by Illumina Ventures and RA Capital with participation from existing investors Fall Line Capital, The Grantham Foundation, and First In Ventures, as well as new investors Wollemi, Radicle Growth (first investment from their second fund), and iSelect.
KEY QUOTES:
“The funding will accelerate the development of Pluton’s flagship product, the Microbial Cover Crop, through field trials and towards commercial partnerships. It will also enable us to expand our team, advance a microbial-derived pesticide to combat the fall armyworm, and harness the full potential of our Micromining platform to swiftly identify tailored solutions for agriculture.”
— Elizabeth Gallegos, CEO of Pluton
“In the past two decades, we have witnessed how genomics revolutionized the landscape of human diagnostics and therapeutics. We expect genomics to also enable breakthroughs in agriculture. Pluton’s Micromining™ approach, combining genomics with rigorous data science, can unlock the potential of soil microbes for more sustainable agriculture and beyond.”
— Illumina Ventures’ Charles Lin, PhD, who has joined Pluton’s Board of Directors
“Pluton’s technology will benefit farmers’ bottom lines as well as our environment. Microbial Cover Crops™ will enrich the soil with nitrogen to increase crop yields while reducing fertilizer costs, improving profits and sustainability, limiting erosion, and boosting both soil quality and carbon sequestration. We are proud to support Pluton in their work to improve nature’s toolkit and revolutionize agriculture.”
— RA Capital’s Michael Gillespie, MD, who has also joined Pluton’s Board of Directors
