Inocucor Corp., a Centennial, CO-based developer and producer of biological crop inputs, raised $15.9m in Series B funding.
The round was led by TPG ART with participation from Cycle Capital Management, Desjardins Innovatech and Pontifax AgTech. In conjunction with the funding, Ben Belldegrun, managing partner and co-founder of Pontifax AgTech, joined Inocucor’s board of directors.
The company intends to use the funds to expand its R&D teams’ work on development of a new class of crop inputs that combine its biologicals with ATP’s plant nutrients for canola, corn, soybean and other broadacre crops, as well as high-value produce markets.
Products will be formulated based on plant type, geography and soil conditions.
Led by President and CEO Donald R. Marvin, Inocucor develops and produces biological crop inputs for high-value produce and row crops. Earlier this week, the company acquired ATP Nutrition, a producer of science-based plant nutrients based in Oak Bluff, Manitoba, Canada. The company employs about 65 people in Montreal, Canada and in the U.S., and anticipates adding another 25 to 30 high-level scientific and managerial professionals over the next year.