Pivot Bio, a Berkeley, CA-based nitrogen innovator in agriculture, closed a $430m Series D funding.
The round, which brought the total equity raised to more than $600m, was led by DCVC and Temasek with participation from Generation Investment Management, G2 Venture Partners, Rockefeller Capital Management, Breakthrough Energy Ventures, Continental Grain Company, Prelude Ventures; Pavilion Capital, Bunge Ventures, Tekfen Ventures, and Roger Underwood.
The company intends to use the funds to focus on scaling its U.S. business and expanding into key international markets.
Led by Karsten Temme, Ph.D., co-founder and CEO, Synthetic provides a microbial nitrogen which replaces synthetic nitrogen to prevent emissions from the environment, and to avoid environmental impact. Its latest product, PROVEN® 40, enables farmers to replace up to 40 pounds per acre of synthetic nitrogen. It streamlines farming operations, eliminating machinery and labor required to apply synthetic nitrogen, and represents a consistent, weatherproof way to ensure nitrogen is delivered into the crop throughout the growing season instead of being left in the soil or lost from the field.
FinSMEs
19/07/2021