NewLeaf Symbiotics, a St Louis, Missouri-based agricultural bio company, closed a $17m Series B round of financing.
The round was led by Otter Capital with participation from existing investors RockPort Capital, Open Prairie Ventures and Pangaea Ventures.
The company, which had closed a $7m Series A round in January 2013, intends to use the funds to further accelerate its R&D program, ramp up production from pilot to commercial scale, and go to market with its first biological products.
Led by Tom Laurita, CEO, NewLeaf is an agricultural bio company focused on the commercialization of beneficial plant bacteria. The company, which acquired Intuitive Genomics, a bioinformatics solutions provider, in 2013, expects initial product sales in 2015.