Ascribe Bio, an innovator in natural crop protection, announced the successful closing of an oversubscribed $12 million Series A financing round. The round was co-led by Corteva through its Corteva Catalyst platform and Acre Venture Partners. The funding also included participation from new and existing investors, such as Syngenta Group Ventures, Trailhead Capital, Silver Blue, Cultivation Capital, and more.
This milestone will support Ascribe’s small-molecule technology platform and the upcoming commercial launch of Phytalix®. Phytalix® is a revolutionary ‘biofungicide without compromise’. It combines the health and sustainability benefits of biologicals with the ease of use and affordability of traditional chemical crop protection products.
“Ascribe’s approach to biological solutions offers farmers smarter, more sustainable disease control options,” said Tom Greene, senior director at Corteva and global leader of Corteva Catalyst. “This investment underscores our ongoing commitment to developing next-generation biological and nature-inspired products for growers worldwide.”
Alex Bondar, Partner at Acre Venture Partners, added, “Ascribe’s lean team has been strategic and disciplined, successfully advancing Phytalix® from the lab to the field. The results show dramatic yield gains compared to other biological products. The strength of this syndicate reflects their progress.”
Jay Farmer, CEO of Ascribe, expressed: “We’re thrilled to secure this funding to support the global launch of our technologies. We’re proud to have the backing of industry leaders like Corteva and Syngenta Group Ventures. This investment accelerates our mission to deliver highly effective, sustainable crop protection solutions to farmers worldwide.”
With this funding, Ascribe will ramp up manufacturing and support early commercialization efforts. Phytalix® is expected to receive its first regulatory approval later this year in Brazil. It plans to expand into the USA and other markets soon after.
