Led · Series B · Mar 2021

Amfora uses gene‑editing to reprogram a genetic switch in soybeans to raise seed protein content while maintaining yield. The company says its technology effectively pre‑concentrates protein in the seed, reducing the need for capital‑intensive concentration processes. Amfora intends to supply high‑protein soybean meal and texturized protein to plant‑based meat companies and other high‑value applications. Management frames the approach as a way to scale supply for plant‑based protein demand while lowering the environmental footprint of production. Financially, Amfora has received grant funding from the United Soybean Board, including a recent $1.0 million award that brings USB support to $2.6 million to date. Amfora uses gene editing to increase the protein density of soybean and other crops, aiming to fuel the plant-based protein market. The company is building a platform of technologies to enhance the nutritional density of food and feed crops and is initially focused on developing soy as a scalable, low-cost high-density protein source. Amfora's approach regulates a genetic switch that shifts seed composition toward protein at the expense of starch and fiber. The company plans to expand development beyond soy to crops such as rice and wheat to improve nutritional profiles and address global food security and health issues. Amfora emphasizes its protein increases do not require additional fertilizer, thereby aiming to reduce agriculture's environmental footprint. Financially, Amfora announced a $6 million Series B investment from Leaps by Bayer and Spruce Capital Partners to advance its pipeline and platform. Amfora develops nutritionally enhanced forage crops using biotechnology to increase protein production efficiency and crop productivity. The company intends to build a pipeline of forage products that incorporate multiple approaches to raising protein production efficiency and energy density. It also plans to develop nutritionally enhanced crops for human nutrition. Amfora is led by President and CEO Lloyd M. Kunimoto, Chief Science Officer Michael Lassner, and Chief Strategy Officer Jonathan Burbaum (a Spruce Capital Entrepreneur-in-Residence). The company received a worldwide, exclusive license from CSIRO to use proprietary technology to increase energy density in specified forage crops. It closed a $5M Series A to accelerate development of forage crops for improved human and animal nutrition.

Participated · Series C · Apr 2020

Pivot Bio sells engineered microorganisms that are applied with planting as a liquid and produce nitrogen in soil, potentially replacing or reducing solid fertilizer applications. Its current product, Proven 40, can supply up to 40 pounds of nitrogen per acre and is sold for corn, wheat and rice. The microbes die off after harvest and the company iterates on enzymatic pathways and activation thresholds to improve performance in future versions. Pivot Bio says it can address about a quarter of a $200 billion total market and tripled its revenue in 2021 while currently selling only to farmers in the northern hemisphere. The business touts recurring revenue potential because farmers reapply the product each season. Management plans to use new capital to deepen and broaden the platform and to grow relationships with farmers. Pivot Bio is a Berkeley, Calif.-based developer of microbial nitrogen technology that increases crop yields. The company leverages the crop microbiome and is led by CEO and co‑founder Karsten Temme, Ph.D. Its inaugural product, Pivot Bio PROVEN™, for corn delivers more nitrogen into the crop than synthetic nitrogen, helping to reduce greenhouse gas emissions, water pollution, and energy use tied to the $65 billion synthetic nitrogen fertilizer market. Pivot Bio raised $100M in a Series C and has raised $186M in capital to date. The company intends to use the funds to scale its microbial nitrogen technology and expand internationally. Investors include venture and corporate backers such as Breakthrough Energy Ventures, Temasek, DCVC, Prelude Ventures, Bunge Ventures and Continental Grain Company. Pivot Bio identifies specific microbes in a crop’s roots that have the innate ability to produce nitrogen and uses a proprietary non-transgenic technology to reawaken that capability. Its flagship product, Pivot Bio PROVENTM, is applied in furrow at planting, adheres to the root, and delivers nitrogen in a timely and efficient manner. PROVENTM is the first nitrogen-producing microbial product available for U.S. corn farmers and is already approved for use in states that represent about half of the U.S. corn-producing market, with additional state approvals in process for 2018 and 2019. The company plans to strengthen its commercial launch in the U.S., continue R&D on a second-generation seed treatment, and introduce products in markets such as Brazil, Argentina and Canada. Pivot Bio is led by CEO and co-founder Karsten Temme, Ph.D., and is based in San Francisco, California. Its current financing includes a recently closed $70M Series B to support these efforts. Pivot Bio is a Californian startup operating in stealth that uses microbe-powered technology to develop agricultural products. CrunchBase describes the company as focused on increasing nutrient delivery, providing pest protection, and boosting crop quality. The firm leverages engineering principles and data science to map plant microbiome dynamics and evolve beneficial traits. According to an SEC filing cited in the article, Pivot Bio completed a $16 million Series A round. The article does not name investors or disclose a valuation. The company remains in stealth and the article notes more information will be available when it officially launches.

Led · Series B · Apr 2020

Crop Enhancement produces proprietary, sustainable bio-compatible chemistries sold as CropCoat that are sprayed with conventional farm equipment to protect leaves, stems and fruit and reduce the need for synthetic pesticides. The company’s first product, CropCoat, has demonstrated yield protection and enhancement versus synthetic chemistries in several global crops and can be applied alongside nutrients and other active ingredients. Crop Enhancement plans to use new funding to expand strategic partnerships with agrochemical companies and regional distributors and to broaden field trial targets in high-value fruit and vegetable segments. The company will also advance regulatory efforts in the United States, European Union, Brazil, and Central America and seeks to broaden its IP portfolio. Recent leadership appointments (Jean Pougnier and Dr. Damian Hajduk) are intended to accelerate go-to-market initiatives. The company has reported field trial progress in coffee, almond, and cacao and planned 2020 trials on grapes, apples, broccoli, onions, and tomatoes. Crop Enhancement develops environmentally friendly chemistry formulations and proprietary films that modify plant surfaces (leaves, stems, fruit, and seeds) to improve resistance to pests and diseases and reduce pesticide use. Its formulations can also be applied to agricultural inputs such as nutrients and fertilizers to control release, lower costs, and increase yield. The company targets growers across North America, Southeast Asia, Greater China, Latin America, and Africa. Crop Enhancement was founded in 2011 by David Soane, Ph.D., and is led by CEO Kevin Chen, Ph.D. The company intends to use newly raised capital to accelerate development and commercialization of its products. Headquarters are in Cambridge, MA.

Participated · Series C · Oct 2019

Provivi is an emerging crop-protection company developing scalable pheromone solutions for pest and resistance management in large-acreage crops such as corn, rice, and soy. Its patented production method lowers the cost of manufacturing pheromones, enabling use in high-acreage row crops. Provivi has registered and commercialized its technology in Mexico, Brazil, and Kenya. The company focuses on pheromone-based Mating Disruption to selectively control pests while preserving beneficial insects and reducing harmful residues. Provivi plans projects to develop and supply products against Rice Stem Borer and Maize Fall Armyworm to small-scale farmers in Kenya, Bangladesh, and India. Financially, the company announced a $10M investment from the Bill & Melinda Gates Foundation that adds to a recently announced $45.5M Series C-2 fundraising round. Provivi develops a family of pheromone-based solutions for crop protection, targeting crops such as corn, rice and soy. Its products use insect pheromones to control damaging pests while preserving beneficial insects. The company intends to commercialize and launch its pheromone product line. Provivi was founded in 2013 by Dr. Pedro Coelho, Dr. Peter Meinhold and 2018 Nobel laureate Dr. Frances Arnold. The firm is based in Santa Monica, California. It completed a significant Series C financing to support its commercialization plans. Provivi develops bio-based pest control technologies using biological and innovative chemical processes. The company leverages scientific discoveries at the California Institute of Technology and its own technological developments. It produces supply-limited products for agriculture, commercial, household, and public health pest management. Within crop agriculture Provivi leverages molecules used by insects for communication to develop pest control solutions. Its agricultural solutions are intended to fit into Organic, Conventional and GMO practices. The company intends to use the funds from the Series A to advance its solutions.

Participated · Series C · Feb 2018

Inscripta develops the Onyx digital genome engineering platform, a benchtop system combining an instrument, consumables, software and assays to enable scalable, automated CRISPR-based workflows and massively parallel, trackable single-cell edits. The company announced the first commercial shipment of Onyx to customers including the GeneMill at the University of Liverpool and cites customers such as Sestina Bio. Onyx is designed to accelerate the four steps of synthetic biology—design, generate, test, and learn—via InscriptaDesigner, Onyx Genome Engineering Kits, genotyping assays, and InscriptaResolver software. Inscripta highlights an IP portfolio of nearly 100 issued U.S. patents and frames the platform as enabling faster genome engineering cycles with fewer resources. The company is headquartered in Boulder, Colorado, with offices in San Diego and Pleasanton, California, and Copenhagen, Denmark. Inscripta closed a $150 million Series E financing to support commercial scaling and product deployment. Inscripta develops the Onyx Digital Genome Engineering platform, a fully automated benchtop instrument for genome-scale engineering. The platform comprises an instrument, consumables, software, and assays and enables creation of libraries of millions of precisely engineered single cells in one experiment through a fully automated workflow. Inscripta says the platform overcomes limitations of existing CRISPR-based gene editing and enables massively parallel, trackable editing of single cells at unprecedented scale. The company plans to use new funding to accelerate applications expansion and commercialization of Onyx to meet anticipated high demand. Financially, Inscripta raised $125 million in a Series D, bringing total capital raised to $259.5 million. The company is headquartered in Boulder, Colo., with offices in Pleasanton, Calif., and San Diego, and is backed by investors including Venrock, Foresite, Paladin Capital Group, Mérieux Développement, NanoDimension, MLS Capital, JS Capital Management, and Oak HC/FT. Inscripta develops a full suite of gene editing tools—software, instruments, reagents—and a family of CRISPR enzymes (MADzymes) intended to increase the speed and efficiency of multiplexed, single-cell gene editing. Its product portfolio includes the proprietary MAD7 enzyme, which the company has offered to commercial and academic researchers with no up-front licensing fees or reach-through royalties. Inscripta says these tools remove barriers to single-cell engineering and aim to enable advances to "feed, fuel, and heal humanity." The company expanded its Series C financing to support commercialization and market introduction of its solutions. Inscripta increased its Series C by $20M to a total of $105.5M, adding to an $85.5M financing announced in 2018. The company is led by CEO Kevin Ness and board chairman John Stuelpnagel and is headquartered in Boulder, Colo., with offices in Pleasanton, Calif., and San Diego. Inscripta develops tools for forward cell engineering, including a family of CRISPR enzymes called MADzymes, custom nucleases for researchers and commercial partners, and integrated instruments, reagents and software. Its products are designed to increase the speed and efficiency of multiplexed, precision gene editing. The company is led by CEO Kevin Ness and is based in Boulder, CO and Pleasanton, CA. Inscripta completed a $55.5M Series C financing and plans to use the proceeds to expand research capabilities and strengthen its internal team of research experts. No operating metrics were disclosed in the article.