Open Prairie Ventures has backed NewLeaf Symbiotics, Inc. an agricultural biotechnology firm. The investment, from Open Prairie Ventures II, was part of a US$7.0 million Series A round of financing that will be used to further NewLeaf Symbiotics’ field trials. Other investors in the syndicate include Rockport Capital, Pangaea Ventures and several individuals.
Open Prairie Ventures, one of the nation’s premier ag-tech early and growth stage venture capital firms, announces an investment in NewLeaf Symbiotics, Inc., an agricultural biotech firm. The investment, from Open Prairie Ventures II, was part of a $7.0 million Series A round of financing that will be used to further NewLeaf Symbiotics’ field trials across a number of key market segments, advance product formulation efforts and expand its growing portfolio of intellectual property. Other investors in the syndicate include Rockport Capital, Pangaea Ventures and several individuals.
NewLeaf Symbiotics is an agricultural biotech firm that is commercializing a family of beneficial bacteria known as PPFMs (Pink Pigmented Facultative Methylotrophs). PPFMs are ubiquitous in nature and have been shown to improve plant health, promote early growth, and increase crop yield. Tom Laurita, NewLeaf Symbiotics’ CEO, commented on the investment partners: “We have assembled a terrific syndicate that will definitely be helpful to the company as we move through the next stage of development.”
Jason Wrone, Partner at Open Prairie Ventures, said: “With our dedicated focus on agriculture technologies we track many opportunities across this sector. We believe that the scientific advances reported by NewLeaf Symbiotics make this the most compelling opportunity in the burgeoning biocontrols market today.”
About Open Prairie Ventures:
Open Prairie Ventures is one of the nation’s premier ag-tech early and growth stage venture capital firms. Its Midwest-based management team draws on generations of agribusiness experience to identify and support promising technology companies solving the world’s most challenging agricultural issues. Founded in 1999, Open Prairie has successfully harvested companies from start-up to IPO and leveraged its vast network of relationships with strategics to optimize returns for its investors. Current investments include Vestaron, a developer of proprietary, environmentally-conscious agriculture insecticide products based on polypeptides found in spider venom; and its most recent investment, NewLeaf Symbiotics, an agricultural biotech firm that is commercializing a family of beneficial bacteria shown to improve plant health, promote early growth, and increase crop yield.
About NewLeaf Symbiotics:
NewLeaf Symbiotics is a development stage company based in the Bio-Research & Development Growth (BRDG) Park at the Danforth Plant Science Center in St. Louis, MO. Formerly known as TrophoMax LLC, NewLeaf is commercializing Pink Pigmented Facultative Methylotrophs (PPFMs) for broad applications to the agriculture and horticulture industries. PPFMs are microorganisms that supply several essential nutrients that all plants need to grow. When PPFMs are applied to plants in a prescribed manner, the plants have been shown to grow faster and stronger, and to generate higher yields. Utilizing symbiotic microorganisms such as PPFMs to enhance plant growth and health can reduce the need for synthetic chemicals and other treatments, resulting in more profitable and sustainable farming.
O’Donnell Integrated Marketing Communications