Agritech startup attracts investment from global companies
Summary
Phospholutions raised additional investment from Ospraie Ag Sciences, Bunge Ventures, and UPL Ltd. The company will use the capital to accelerate the commercial launch of its RhizoSorb fertilizer additive in the U.S. crop market. Phospholutions says the product can cut phosphorus fertilizer applications by 50% without reducing yield. The company also announced that Stephan Levitsky joined as COO and Vice President of Sustainability. The startup sells directly to producers and through channel partners, serving both large phosphorus producers and farmers.
Funding
Amount
$5.3M
Total raised
Date
July 7, 2022
Announcement date
Investors
Ag Ventures Alliance, Tekfen Ventures, Maumee Ventures, UPL, Continental Grain
Lead investors
Company
https://www.phospholutions.com/
Funded company
Classifications
industries
AgriTech
applications
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