Asilomar Bio, Inc., a San Francisco, CA-based company developing technologies that improve harvest yields for growers, closed a $12m Series B funding.
The round was led by Syngenta Ventures and Cavallo Ventures, the venture capital arm of Wilbur-Ellis, with participation from existing investors Fall Line Capital and Cultivian Sandbox.
The company intends to use the funds to launch and market, as well as commercialize its first compound, an active ingredient that works by increasing a plant’s transpiration rate, the process by which water moves through plants.
Founded in 2012 by CEO Eric Davidson and CTO Travis Bayer, Asilomar Bio is developing technologies for farmers to increase harvest yields by enhancing crop nutrient and water use. The company’s first commercial product contains a novel active ingredient that can rewire the hydraulic architecture of the plant, improving how a plant senses, responds and uses water and nutrients from the soil.
Its performance has been validated in more than 200 field trials over six growing seasons.