Announces €45 Million Investment Round to Accelerate Global Expansion
Summary
Agri-Biotech Innovation in Response to the Climate CrisisAs global agricultural yields face increasing threats from frequent and extreme climate events, Elicit Plant delivers innovative solutions that leverage the unique properties of phytosterols to enhance plant health in the face of environmental stress. Since 2022, Elicit Plants products have become well-established in France and strategic markets like Brazil and Eastern Europe, focusing on corn, sunflower, cereals, and soy. In addition, the company obtained Marketing Authorization in the US to launch its first commercial product for Corn.The companys current strategy is essentially based on three pillars: Expand strategic partnerships with major agri-input players, as initiated with Bayer, BASF and Certis Belchim to ensure on-the-ground adoption. Fuel the innovation momentum through a significant R&D focus and grow the portfolio of phytosterols bio-based solutions for key crops, supported by strategic research partnerships.The oversubscribed investment round was led by Carbyne Equity Partners, a private equity firm that invests in growing European businesses with strong market positions and a focus on R&D in its key sectors: agricultural technology, healthcare, and nutrition. Moreover, the existing investors Sofinnova Partners, European Circular Bioeconomy Fund (ECBF), and the Ecotechnologies Fund 2 managed by Bpifrance Investissement, reaffirmed their commitment.