PlantResponse Biotech, a Madrid, Spain-based agrobiotechnology company, closed a €5.7M Series A funding round.
The round was led by Monsanto Growth Ventures with participation from Caixa Capital Risc, Middleland Capital, and Novozymes.
The company intends to use the funds to develop and bring to the market its current portfolio of products, to register and launch novel products, and to increase the R&D team and technology pipeline.
Founded in 2008 by Prof. Antonio Molina (current Chair of the Scientific Advisory Board) and Prof. Pablo Rodríguez Palenzuela, and led by Eduardo Quemada, CEO, PlantResponse focuses on the identification and development of new molecules and traits regulating plant responses to biotic and abiotic stresses.
PlantResponse has developed a broad portfolio of biological products based on known modes of action focused in two key areas:
i) novel biological products derived from plants and microorganisms that improve crop vigor, and enhance crop resistance to biotic and abiotic stresses;
ii) plant genes (traits) for crop breeding to develop new varieties with increased yield and resistance to stresses.
A spin-off of the Universidad Politécnica de Madrid, the company has an IP portfolio including ownership and proprietary rights for 6 patents and 10 products.