NewLeaf Symbiotics Closes $45M Series D Funding
Summary
The round was led by Gullspång Re:food and followed by Otter Capital Partners LP, S2G Ventures, Leaps by Bayer and others. The company intends to use the funds to accelerate its efforts with PPFM technology and adjacent technologies in the areas of biostimulants/microbial inoculants, biocontrol, nitrogen use efficiency and methane mitigation. Led by Brent Smith, CEO and President, NewLeaf Symbiotics is an agricultural biotech company that is focused on the discovery, development, production and commercialization of products containing a genus of beneficial microbes that are ubiquitous and naturally symbiotic with plants. Its technology outcomes include increased yield potential and sustainability indicators. The company’s plans for 2024 include a new EPA-registered biopesticide technology shown to repel corn rootworm in corn plants, new biostimulant technologies for peanut and cotton, and continued research and development around rice yield, nitrogen efficiency and methane reduction impact.