Key Takeaways:
- $12 million Series A round co-led by Corteva (via Corteva Catalyst) and Acre Venture Partners
- Participation from Syngenta Group Ventures, Trailhead Capital, Silver Blue LLC, Cultivation Capital, and The Yield Lab
- Funding supports commercial launch of Phytalix®, a next-generation biofungicide
- Ascribe Bio to expand manufacturing and prepare for regulatory approvals in Brazil and the U.S.
Ascribe Bio Advances Crop Protection Innovation
Ascribe Bio (“Ascribe”), an innovator in natural crop protection, announced the 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, with participation from Syngenta Group Ventures, Trailhead Capital, Silver Blue LLC, Cultivation Capital, and The Yield Lab.
The financing will accelerate the global commercialization of Ascribe Bio’s small-molecule technology platform and support the upcoming launch of Phytalix®, a biofungicide designed to deliver the performance of traditional crop protection products while maintaining the environmental and health benefits of biologicals.
Investor Perspectives
“Ascribe’s approach to biological solutions provides farmers with smart and sustainable choices for disease control,” said Tom Greene, Senior Director at Corteva and Global Leader of Corteva Catalyst. “This investment illustrates our ongoing commitment to advancing next generation biological and nature-inspired products for growers around the world.”
Alex Bondar, Partner at Acre, added, “Ascribe’s lean team has been strategic and disciplined, advancing Phytalix from the lab to the field. They’ve demonstrated dramatic yield gains versus other biologicals. You see the progress reflected in the caliber of this syndicate.”
Global Expansion and Commercialization
“We’re excited to secure these resources to fund the global launch of Ascribe Bio’s technologies and are delighted to earn the support of renowned global agriculture leaders like Corteva and Syngenta Group Ventures,” said Jay Farmer, CEO of Ascribe. “This investment accelerates our mission to bring highly effective and sustainable crop protection to farmers worldwide.”
With this investment, Ascribe Bio will expand its manufacturing capacity and advance early commercialization activities, with Phytalix® expected to receive its first regulatory approval later this year in Brazil, followed by launches in the United States and other key markets.
