Micropep Technologies, a global leader in micropeptide crop protection technologies, has announced the successful closure of its Series B funding round with an additional $11 million investment. This brings the total funding for the round to $40 million, elevating Micropep’s total funding to over $60 million.
The investment was led by new investors Corteva Inc. through its Corteva Catalyst platform and Sparkfood SA, as well as existing investors.
The capital will be used to support Micropep’s pipeline of sustainable micropeptide solutions, which are developed using the company’s proprietary discovery platform, Krisalix™. This platform allows researchers to discover new micropeptide molecules quickly and efficiently for more effective and environmentally friendly crop protection.
Micropep’s Krisalix™ platform uses a combination of proprietary micropeptide design algorithms and bioassays to measure efficiency, stability, and production feasibility. This approach enables the development of affordable, effective crop protection solutions that are more sustainable than traditional methods.
The company’s CEO and co-founder, Thomas Laurent, stated that the increased investment will accelerate the company’s time to market and enable it to grow the business and bring micropeptide-based products to farmers worldwide.
Corteva Inc. has partnered with Micropep to accelerate the development of early-stage, disruptive technologies that enable farmers to sustainably produce more food. The company’s investment in Micropep is part of its commitment to supporting innovative technologies that complement its own biologicals and natural products.
Sparkfood, a subsidiary of Sonae, is a venture capital firm that invests in food companies that are working towards a sustainable and healthier future. The company’s Head of Ventures, Anouk Veber, stated that Micropep is well-positioned to make a significant impact in the industry due to its combination of innovative technologies and approaches.
Micropep’s success has been driven by its ability to offer novel crop protection options for farmers. The company’s micropeptides have demonstrated strong efficacy in the field at an affordable cost, while also offering a solution to the growing resistance to traditional chemical alternatives.
The additional $11 million in funding will enable Micropep to solidify its position in the market, strengthen existing partnerships, and build new relationships with leading companies in the industry. This will ultimately allow the company to grow and bring micropeptide-based products to farmers worldwide.
