Aphea.Bio, a Louvain-La-Neuve, Belgium-based developer of sustainable agricultural products, raised €9M in series A funding.
In total, the company raised €7.7m in capital and €1.3m in non-dilutive capital. The round was led by V-Bio Ventures with participation PMV, Agri Investment Fund, Vives Louvain Technology Fund, Qbic II, Gemma Frisius Fund KU Leuven, Group De Ceuster and VIB.
The company will use the funds to continue to advance its biologicals.
Led by CEO Dr. Isabel Vercauteren and CSO Dr. Steven Vandenabeele, Aphea.Bio, will develop sustainable agricultural products based on nature-based microorganisms to increase crop yield and protect plants against specific fungal diseases.
The company is a spin-off of the VIB, UGent and KU Leuven.