Micropep, a Toulouse, France-based agricultural biotech company, raised €8.5M in Series A funding.
The round was led by Supernova Invest with participation from FMC Ventures, Sofinnova Partners and IRDI Capital Investissement. Romain Sautrau, Investment Director at Supernova Invest will join the Board of Directors and Sara Olson, Principal at FMC Ventures, along with Jean-Michel Petit, Investment Director at IRDI Capital Investissement will be joining as Observers to the Board.
The financing will be used to further develop proprietary discovery platform and progress pipeline targeting disease control and weed suppression.
Led by Thomas Laurent, Micropep provides an innovative discovery platform for the development of novel peptide-based biological products for agriculture. The company, spun out from Centre National de la Recherche Scientifique (CNRS) and Toulouse University in 2016, a centre of excellence for AgriTech, has developed proprietary technology to precisely enhance plant traits without altering DNA by spraying “miPEPs”, a unique family of natural peptides regulating plant microRNAs. Micropep is positioned to enter and transform the EUR 47 billion-plus market for pesticides, initially targeting $28 billion herbicides and fungicides markets in Americas and Europe.