Phospholutions, a State College, PA-based sustainable fertilizer startup, raised up to $1.5m in funding.
Backers included 1855 Capital and Maumee Ventures, the venture capital subsidiary of The Andersons, Inc., a diversified U.S. agribusiness.
The company intends to use the funds for the full commercial launch of its RhizoSorb® product
Led by CEO and Penn State alumnus Hunter Swisher, Phospholutions has developed a patented technology to alleviate the environmental impact of phosphorus fertilizer.
RhizoSorb is a soil-enhancement product that utilizes technology originally created in Penn State University’s College of Agricultural Sciences to reduce phosphorus runoff and enhance plant health, decreasing the amount of water and fertilizer needed for plant growth.