Based on Ghent University, KU Leuven and VIB research, Aphea.Bio is now making provisions to launch its initial products.
Aphea.Bio, a Belgium-based agriculture technology provider spun out from multiple institutions, has collected €14m ($16.8m) of series B funding from investors including KU Leuven-run seed vehicle Gemma Frisius Fund.
The round was led by Astanor Ventures and also featured VIB, multi-university venture fund Qbic II, university venture fund Vives, Flemish-government owned regional development board PMV together with V-Bio Ventures and Agri Investment Fund.
Agriculture and environmental care product supplier Group De Ceuster also provided capital.
Founded in 2016, Aphea.Bio produces naturally-derived pesticides and stimulants to protect farm crops and boost yields by improving nutrient uptake and destroying noxious bugs and vermin.
The series B cash will help drive R&D as Aphea.Bio works to secure regulatory approval for its inaugural product slate.
Aphea.Bio emerged from stealth in 2017 from Ghent University, KU Leuven and VIB, the last of which led a $8.7m series A round through its investment fund V-Bio Ventures at that time.
Gemma Frisius Fund, Qbic II and Vives Fund, the venture fund established by Université catholique de Louvain, also took part, as did agriculture and environmental care product supplier Group De Ceuster, PMV and Agri Investment Fund.
– This article was updated on April 14, 2021 to include the participation of Group De Ceuster, revealed subsequently by the spinout.
