Aphea.Bio, a Belgium-based AgTech firm, has successfully closed a €70 million Series C funding round. The investment was led by Innovation Industries, with Korys Investments also participating, and received notable backing from the Bill & Melinda Gates Foundation, SFPIM, BNP Paribas Fortis, and returning investors ECBF, Astanor, and AIF, among others.
The newly acquired funds will allow Aphea. Bio to expand its R&D efforts in biologicals, scale product launches, broaden its market presence, and commercialize its innovative product lineup. The company’s collaboration with the Gates Foundation will facilitate the development of biostimulant solutions tailored to address the unique requirements of smallholder farmers in the foundation’s priority regions in Sub-Saharan Africa and South Asia.
Caaj Greebe, Partner at lead investor Innovation Industries, expressed enthusiasm for the company’s potential, citing Aphea. Bio’s exceptional team, robust scientific grounding, and product portfolio promise to address the significant challenges in contemporary agricultural practices.
David Devigne, Investment Director at Korys Investments, echoed Greebe’s sentiment: “We are delighted to support Aphea.Bio in driving the biological revolution in agriculture. Aphea.Bio’s ultimate goal of addressing the ever-increasing challenge of supplying the growing world population with sufficient and healthy food while using less land and pesticides fully aligns with Korys’ investment philosophy.”
Aphea.Bio CEO Isabel Vercauteren shared her excitement about the investment round, seeing it as an endorsement of the company’s mission to promote sustainable, profitable, and reliable farming while accelerating their commercialization path. “This investment will allow us to broaden our operations and bring our products to market at a larger scale, so we can address urgent agricultural challenges and meet the needs of farmers worldwide,” she stated.
Aphea.Bio has grown substantially in recent years, expanding its team to include over 50 scientists and industry specialists and planning to open a new pilot plant later this year. The company is also now a Certified B Corporation™, acknowledged for its high social and environmental impact standards.
The recent launch of ΛCTIV by Aphea.Bio®, a novel biostimulant seed treatment, marked the company’s first product introduction. The company is also preparing to release its inaugural maize biostimulant in 2024 and plans to submit its first biofungicide for regulatory approval in the United States and Europe next year.
These significant milestones and the successful Series C Funding round underscore Aphea.Bio’s role as a significant contender in promoting a safe and healthy food chain through sustainable agriculture.