NewLeaf Symbiotics announces the second close of its $30MM series C financing
Date:09-11-2017
NewLeaf Symbiotics announced that it has completed the second close of its $30MM series C financing, accelerating plans to convert proven applications of its unique biologicals platform into products for large-scale agriculture. The company's commitment to tapping the advantages of Methylotrophic bacteria has positioned it as a leader in agricultural biologicals.
S2G Ventures (Seed 2 Growth), a multi-stage venture fund investing in transformative food and agriculture companies joined first close lead investors Monsanto Growth Ventures and Otter Capital to finalize the oversubscribed financing. The Yard Ventures, (a Harvard alumni fund), Lewis & Clark Ventures, Rockport Capital, Pangaea Ventures, Open Prairie Ventures, and other investors participated in the series C round.
"We invest in transformative agriculture companies whose technologies and products are driving the sustainability revolution and can better align the food system to meet consumer demands," said S2G CIO and Managing Director Sanjeev Krishnan. "We've been following NewLeaf for several years and have witnessed how the company's innovative strategy has created a product pipeline that can move the needle in Ag biologicals."
NewLeaf will use the invested capital to commercialize seed treatment and in-furrow products for soybeans, corn, wheat, peanuts, and other crops. The company is tripling the square footage of its R&D and pilot production facility in St. Louis and is expanding its proprietary Prescriptive Biologics Knowledgebase bioinformatics platform.
"This financing is a major milestone for NewLeaf," added NewLeaf CEO Tom Laurita. "It proves that our technology and strategy are working. We are excited by the composition of this investment syndicate. Monsanto understands the input side of the agriculture equation as well as any company in the world. S2G invests in companies that drive the realignment of food production toward sustainability. NewLeaf is working at the convergence of next generation agricultural products and worldwide consumer demand for a sustainable future."
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