Agtech startup raising $12M to commercialize biopesticide
Summary
KALAMAZOO — The $12 million in new capital Vestaron Corp. seeks to raise would enable the company to complete a journey to bring to market a new environmentally friendly pesticide. A Kalamazoo-based firm that developed a biopesticide based on spider venom, Vestaron should bring its first product, named Spear, to market “very soon” for greenhouse vegetables and ornamentals, Rath said. Rath joined Vestaron as CEO in April and splits her time between Kalamazoo and her home in Phoenix, Ariz. She has more than a decade of experience working with agtech companies backed by venture capital. Formed 13 years ago and supported through millions of dollars in venture capital raised for research and development, Vestaron will remain based in Kalamazoo “for the foreseeable future,” Rath said. “Anna recognizes the broad applicability of a production platform that so effectively expresses these very powerful peptides, sees how it can drive the next paradigm in crop protection, and has the demonstrated ability to make it a reality,” Gillard said.
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