Aphea.Bio, a Zwijnaarde, Belgium-based agtech startup, secured € 14m in Series B funding.
The round was led by Astanor Ventures joined by current shareholders V-Bio Ventures, Agri Investment Fund, PMV, Vives Fund, VIB, Qbic II and Gemma Frisius Fund.
The company intends to use the funds to further strengthen plans to advance its biostimulant and biofungicide research and development programs towards submission of the regulatory dossier and launch first products, and expand research and development in the areas of bioinsecticides and bioherbicides.
Led by Dr. Isabel Vercauteren as CEO (ex-Bayer, ex-DevGen) and Dr. Steven Vandenabeele (ex-CropDesign/BASF) as CSO, Aphea.Bio develops new agricultural biologicals focusing on products that help reduce fertilizer application (biostimulants) and control fungal diseases (biocontrol agents) sustainably in maize and wheat. The company was founded in 2017 as a spin-off of the VIB and its partner universities UGent and KU Leuven.