AgBiome uses its Genesis discovery platform to capture and screen microbes for agricultural applications, building a database of over 100,000 microbes and sequencing genomes across hundreds of strains. Its first commercial fungicide, Howler, launched last year and works on more than 300 crop-disease combinations; the company reported 10x sales growth in 2020. AgBiome plans to add a second fungicide, Theia, in early 2022 and has submitted a third product, Esendo, for EPA registration. Management expects to expand into insecticides and herbicides and to have 11 products by 2025. The company manufactures and commercializes its own products and will use new funding to accelerate production of two new products, build manufacturing capacity in North America, and expand internationally. AgBiome has grown to over 100 employees and anticipates increasing headcount to about 300 within five years, and plans selective acquisitions of smaller producers to expand its pipeline. AgBiome discovers and develops biological and trait products that leverage the plant microbiome for crop protection. The company uses its proprietary Genesis™ discovery platform to capture and screen a diverse microbial collection for insect, disease and nematode control. Through its commercial subsidiary, AgBiome Innovations, Inc., it develops and sells proprietary crop protection solutions. Its first commercial product, Howler™, is a biological fungicide for disease control in specialty crops and the turf and ornamental markets. AgBiome is led by Scott Uknes and is based in Research Triangle Park, North Carolina. The company intends to use new funding to bring its crop protection products and solutions to market. AgBiome develops biological and trait products from the crop-associated microbiome and is led by Eric Ward and Larry Daquioag. The company has isolated a large collection of agriculturally relevant microbes whose genomes are sequenced, annotated, and analyzed using a proprietary informatics platform custom-designed for microbial genome comparison. Its first product, a biological fungicide pending EPA approval, was expected to reach market in 2016. Based in Research Triangle Park, NC, AgBiome intends to use the $34.5m Series B to advance its research and development programs and support the launch of its first products. The round was led by the Bill and Melinda Gates Foundation with participation from UTIMCO, Pontifax Global Food and Agriculture Technology Fund and several Series A investors. AgBiome will also work closely with the Gates Foundation to deploy its technology and products to help the poorest farmers worldwide. AgBiome uses a proprietary platform to collect, isolate, analyze and test microbes for use as agricultural biological products and as sources of trait genes. The company engages in multiple partnerships to gain access to seed and crop protection markets for its novel products. AgBiome is led by Co-CEO Scott Uknes and is actively hiring. Financially, the company raised an additional $3M in Series A financing, following a $14.5M first close of the Series A round. Strategic agribusinesses Syngenta, Monsanto and Novozymes have taken equity ownership positions, and venture investors Polaris Partners, ARCH Venture Partners, Harris & Harris and Innotech Advisors participated in the Series A first close. AgBiome focuses on discovering plant-associated microbes and genes to develop biological products that enhance plant health, pest resistance and yield. The company’s first product is a biological that controls predominant soil-borne diseases of greenhouse and major row crops. AgBiome applies state-of-the-art genomics and screening technologies to identify useful microbes and genes from agricultural ecosystems. The $14.5 million Series A financing will advance its research and development programs and support the launch of its initial products. Leadership includes academic founders and seasoned ag biotech executives, with co-CEOs Scott Uknes and Eric Ward guiding product and commercial efforts. The company is based in Research Triangle Park, North Carolina.

Total raised

$233M

Funding rounds

5

Latest round

Series D

Latest activity

Sep 2021