Phospholutions develops RhizoSorb, a product positioned to make phosphorus fertilizer use more effective so growers can apply less product for superior yields. The deck emphasizes sustainability benefits and reduced environmental impacts from inefficient phosphorus use. It acknowledges RhizoSorb is pricier than alternatives but argues efficacy and lower usage offset cost. The public materials show detailed efficacy data and go-to-market content, while several commercial and financial slides are heavily redacted. The company has been operating for about seven years and the pitch indicates ongoing commercialization. According to TechCrunch, the company recently closed a roughly $10M raise, bringing total capital raised to $32M. Phospholutions develops RhizoSorb, an additive that can be applied with phosphate or added during fertilizer manufacturing to improve phosphorus uptake by plants. The company says RhizoSorb can allow farmers to cut phosphorus fertilizer applications by about 50% without compromising yields. RhizoSorb has been tested on corn, soybean, wheat, barley, sunflower, chickpea, rice and turfgrass, with an initial focus on large row crops like corn. Phospholutions expanded field trials with digital ag company IN10T to 14 US states and plans further expansion to as many as 130 additional US corn fields in 2022, plus trials in New Zealand, Canada, Turkey, India, Brazil and parts of Africa. Financially, the company tripled in size last year after a $10.3 million Series A led by Continental Grain Company’s CGC Ventures and has recently completed a convertible-note financing to commercialize RhizoSorb in the US row-crop market. Phospholutions' core product, RhizoSorb, is a soil amendment or fertilizer additive that improves delivery of phosphorus and other nutrients and can be applied with phosphate or added during phosphate fertilizer manufacturing. The company reports "dramatic declines" of up to 75% in fertilizer use rates when RhizoSorb is applied. Phospholutions began by targeting turf and ornamental markets and is shifting toward row crops such as corn and soybeans. It will use the Series A funding to support general growth by building a farmer network, establishing partnerships, and running large-scale field trials to collect grower feedback. Management said the company expects to more than double its team this year. The startup sees two go-to-market paths—selling through retailers and distributors for blending, or targeting phosphate producers to incorporate RhizoSorb during production—and notes typical agricultural adoption and regulatory challenges. Phospholutions develops RhizoSorb, a patented soil‑enhancement product designed to reduce phosphorus runoff and improve plant health. The technology was originally created in Penn State University’s College of Agricultural Sciences. RhizoSorb aims to decrease the amount of water and fertilizer needed for plant growth while mitigating environmental impacts of phosphorus fertilizer. The company is led by CEO and Penn State alumnus Hunter Swisher. Phospholutions intends to use the new funds for the full commercial launch of RhizoSorb. The financing positions the company to move from development toward broader market deployment.

Total raised

$27M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2023