UNC Chapel Hill’s agricultural technology developer AgBiome has increased its overall funding to $230m following the series D round.
AgBiome, a US-based agricultural technology spinout from University of North Carolina at Chapel Hill, collected $116m in series D funding yesterday.
The round was co-led by venture capital firm Novalis LifeSciences and investment firm Blue Horizon while undisclosed new and existing investors also contributed to the financing.
Founded in 2013, AgBiome has developed the Genesis platform, which is able to identify the gene sequences and strains of microbial life that could potentially protect agricultural crops from pests and disease.
The spinout has also created a fungicide that can protect against more than 300 combinations of crop disease. It plans to use the series D capital to expand its product portfolio and grow its scientific and commercial activities.
Scott Uknes, co-founder and co-CEO of AgBiome, said: “With this capital, AgBiome is well-positioned to execute on its strategic business model focused on developing proprietary products, fostering partner programmes,…
