A second fundraising round by BioGenerator garnered $2 million for Agragene, Inc., a sustainable agricultural technology firm creating cutting-edge biological crop pest control technologies. In this fundraising round, OAS, the venture arm of Ospraie Management, also took part. According to its CEO, Bryan Witherbee, the funding will hasten the sale of Agragene’s eco-friendly pesticide substitutes and field tests. BioGenerator Ventures and OAS have contributed $7.2 million to the CRISPR technology startup Agragene. The investment was announced after the company’s transfer from San Diego, where greater expenses for equipment, facilities, and employees hindered expansion. The action dramatically decreased the company’s burn rate and increased the yearly financial runway by several months. Carl Casale, the senior agricultural partner at OAS, lauded the St. Louis agtech ecosystem for helping the business by providing a friendly, accessible, collaborative, and inventive atmosphere.
“Biogenerator Ventures is thrilled to have assisted in attracting and being an investor in Agragene,” stated Matt Helms, managing director of BioGenerator Ventures. This is more proof of the region’s developing reputation as a talent-rich environment for companies with an agricultural focus.