Last Updated on: 22nd November 2023, 05:01 am
With the support of the European Circular Bioeconomy Fund (ECBF), Belgian agritech company Aphea.Bio (www.aphea.bio) has successfully closed an oversubscribed Series C financing of €70 million to accelerate its research, development, and market expansion. The financing round was lead by Innovation Industries joined by Korys Investments, the Bill & Melinda Gates Foundation, SFPIM and BNP Paribas Fortis, as well as existing shareholders. This strategic investment aims to advance sustainable agriculture practices, reinforcing ECBF’s commitment to the transition to an healthier and more resilient food system.
Funding enables research and growth opportunities
The new funding will support the rapid growth of Aphea.Bio, cementing its position as a frontrunner in biological product development. It allows Aphea.Bio to further advance research and development in biologicals, scale product launches, expand market reach, and commercialise product offerings.
Isabel Vercauteren, CEO of Aphea.Bio says, “We are excited to have secured Series C Funding, which not only validates our mission to enable sustainable, profitable, and reliable farming, but also propels us toward commercialisation. This investment allows us to broaden our operations and bring our products to market at a larger scale, so we can address urgent agricultural challenges and meet the needs of farmers worldwide, while at the same time ensuring accessibility and affordability for smallholder farmers in low-income countries.”
ECBF acts as returning investor from Series B funding round
Founded in 2020, ECBF (www.ecbf.vc) invests in deep-tech companies that support the transition to a sustainable biobased economy – Aphea.Bio is one of the venture firm’s portfolio companies. ECBF, with its unwavering belief in Aphea’s growth journey, was among the first investors to recognize the company’s immense potential. ECBF lend substantial support during its Series B financing round, wherein Alphea.Bio successfully secured a remarkable €18 million. As one of the follow-on capital providers, the ongoing investment underscores the fund’s confidence in the company’s visionary leadership, transformative technologies and unprecedented market potential.
“ECBF is proud to stand alongside Aphea.Bio as they assert their position as a leading innovator in the agricultural biologics market” said Stéphane Roussel, Partner at ECBF. “The oversubscribed Series C will enable Aphea.Bio to accelerate its mission of revolutionizing agriculture through groundbreaking science-based microbial solutions. This investment not only strengthens our partnership, but also advances our collective efforts of transitioning to a more sustainable agri-food system. We take great pride in backing Aphea.Bio´s experienced and accomplished team as they embark on a new phase of growth towards becoming a global business organization.”
Investment solidifies Aphea.Bio’s plans in achieving sustainable agriculture
This new round of funding comes at a time of remarkable growth for Aphea.Bio. The company has grown into a diverse and talented team of over 50 scientists and industry specialists, and is further expanding its research facilities, with a new pilot plant set to open later this year. In addition to these milestones, Aphea.Bio has also made significant strides in its product portfolio. The recent successful launch of ΛCTIV by Aphea.Bio®, a novel biostimulant seed treatment, marked the company’s first entry into the market. Looking ahead, Aphea.Bio is also actively preparing the launch of its first maize biostimulant in 2024 and is planning to submit its first biofungicide for regulatory approval in the United States and Europe in Q1 and Q3 of next year, respectively.
Aphea.Bio’s recent achievements, coupled with the successful Series C Funding, solidify the position of the company as a key player in achieving a safe and healthy food chain through sustainable agriculture.
