EcoPesticides International, a New Mexico-based startup company developing green biologic pesticides with proprietary, performance-enhancing encapsulation technology, completed a $400k Series A round of funding.
Backers included the New Mexico Startup Factory, an affiliate of the New Mexico Angels; the New Mexico Angels; the University of New Mexico Co-Investment Fund; and a private venture firm based in Nevada.
The company intends to use the funds to advance its technology, support operations and secure research/development partners.
Led by CEO and President Les Stewart, EcoPesticides uses naturally occurring bacteria and fungi proven lethal to develop novel, biologic-based pesticides and microencapsulation coatings and stop defined pest species threatening crops without harm to people or the environment.
The company has an exclusive global licensing agreement with the University of New Mexico.