CHARLOTTESVILLE, Va. November 27, 2023 – AgroSpheres, a biotechnology company pioneering breakthroughs in sustainable crop protection, today announced the closing of its Series B funding round with a strategic investment from FMC Corporation (NYSE: FMC), a global leader in agriculture sciences. This investment brings the total funding in AgroSpheres’ Series B round to $25 million, demonstrating the strong confidence in the company’s innovative solutions. FMC Ventures joins Lewis and Clark AgriFood, Ospraie Ag Science, BIDRA Ventures, and Cavallo Ventures to close out the round.
AgroSpheres has developed cutting-edge technology that enables precise delivery of active ingredients such as small molecules, peptides, and nucleic acids in crop protection products. This technology has the potential to revolutionize the agriculture industry by improving the efficiency, efficacy, and sustainability of crop protection practices.
“We are excited to invest and partner with AgroSpheres, sharing a common vision for advancing agriculture,” said Mark Brooks, managing director, FMC Ventures. “Their innovative technology has the potential to be a game changer in crop protection. With broad IP protection, manufacturing capabilities, and a strong industry network, AgroSpheres stands out in AgTech. We believe this investment will drive innovation and accelerate the development of sustainable solutions for farmers globally.”
AgroSpheres’ Co-Founder and CEO, Payam Pourtaheri, also commented on the investment, saying, “We are honored to welcome FMC Corporation as a strategic investor in AgroSpheres. Their extensive expertise in agricultural sciences and global reach make them an ideal partner for us. This investment will further empower us to continue our mission of providing more effective and sustainable solutions for the agricultural industry. Together with FMC, we will strive to make a significant impact on global agriculture.”
AgroSpheres has gained recognition for its innovative approach to precision delivery of crop protection products, reducing environmental impact, and enhancing overall crop health. This latest investment will support the company in its mission to bring this technology to more markets, helping farmers worldwide address the challenges of feeding a growing global population while minimizing the environmental footprint.
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About FMC Corporation:
FMC Corporation is a global agricultural sciences company dedicated to helping growers produce food, feed, fiber and fuel for an expanding world population while adapting to a changing environment. FMC’s innovative crop protection solutions – including biologicals, crop nutrition, digital and precision agriculture – enable growers, crop advisers and turf and pest management professionals to address their toughest challenges economically while protecting the environment. With approximately 6,600 employees at more than 100 sites worldwide, FMC is committed to discovering new herbicide, insecticide and fungicide active ingredients, product formulations and pioneering technologies that are consistently better for the planet. Visit www.fmc.com to learn more and follow us on LinkedIn®.
AgroSpheres is a pioneering agricultural technology company committed to addressing the most pressing challenges in global agriculture. By harnessing the power of cutting-edge science and technology, AgroSpheres is developing innovative solutions to promote sustainable and efficient farming practices. The company's mission is to revolutionize agriculture, making it more productive, eco-friendly, and capable of feeding the growing global population.