Phospholutions Raises $10.3 Million in Series A Funding
Summary
Happy Valley’s Phospholutions, Inc., a sustainable fertilizer start-up based in the Technology Center Incubator at Innovation Park at Penn State, has announced $10.3 million in Series A funding led by Continental Grain Company. We believe that products like RhizoSorb® will continue to help farmers achieve better, more consistent, outcomes,” says Kris Kemeny, Tekfen Ventures Managing Director. Chris Abbott, Co-Head of Continental Grain’s venture capital strategy said, “Phospholutions has the potential to solve systemic issues around fertilizer application in several key crops. Tekfen Ventures brings its experience in early-stage AgTech investing as well as an international network and strategic engagement opportunities through the Toros Agri brand, and Ag Ventures Alliance has a true commitment to supporting farm productivity with a farmer network to engage during this critical field trial season. Current commercial products aim to deliver phosphorus more efficiently to the plant within the soil to increase farmer profitability while reducing unwanted losses to the environment.