Pivot Bio, a Berkeley, Calif.-based developer of microbial nitrogen tech for increasing crop yields, raised $100m in Series C funding.
The round was co-led by Breakthrough Energy Ventures and Temasek with participation from DCVC, Prelude Ventures, Spruce Capital Partners, Codon Capital, Bunge Ventures, Continental Grain Company, Tekfen Ventures, Pavilion Capital, and individual investors Alan Cohen and Roger Underwood.
The company, which has raised $186m in capital to date, intends to use the funds to scale its microbial nitrogen technology and expand internationally.
Led by Karsten Temme, Ph.D., CEO and co-founder, Pivot Bio leverages the crop microbiome to provide farmers with solutions to grow environmentally-responsible and sustainably focused food crops.
Pivot Bio PROVEN™, the company’s inaugural product for corn, delivers more nitrogen into the crop than synthetic nitrogen aiding in decreasing greenhouse gas emissions, water pollution, and global energy use related to the $65 billion global synthetic nitrogen fertilizer market.