Vestaron, a Kalamazoo, MI-based company focused on improving the safety, efficacy and sustainability of crop protection through its development of peptide-based biopesticides, raised $40m in Series B financing.
The round was led by Novo Holdings A/S, which joined continuing investors Anterra Capital, Cultivian Sandbox, Open Prairie Ventures, and Pangaea Ventures.
The company will use the funds to support the commercialization of its Spear family of products, including expansion into new geographies, and to accelerate the development of its pipeline of additional peptide-based biopesticides.
Led by Anna Rath, CEO, Vestaron leverages a proprietary platform for the optimization and production of peptide-based biopesticides that have the same efficacy as traditional synthetics but with the safety and environmental friendliness of biologics.
The company has recently launched its first two products:
– Spear®-T, which is designed for greenhouse use and controls all four major greenhouse pests – thrips, whiteflies, aphids and mites, and
– Spear-Lep, which is designed for field use and controls lepidopteran pests.