NewLeaf Symbiotics, a St. Louis, MO-based developer of pink-pigmented facultative methylotrophs (PPFMs), raised $45M in Series D funding.
The round was led by Gullspång Re:food and followed by Otter Capital Partners LP, S2G Ventures, Leaps by Bayer and others. As lead investor on this fundraising round, Peter Odemark, Managing Director of Re:food, will also take a seat on NewLeaf’s Board of Directors.
The company intends to use the funds to accelerate its efforts with PPFM technology and adjacent technologies in the areas of biostimulants/microbial inoculants, biocontrol, nitrogen use efficiency and methane mitigation.
Led by Brent Smith, CEO and President, NewLeaf Symbiotics is an agricultural biotech company that is focused on the discovery, development, production and commercialization of products containing a genus of beneficial microbes that are ubiquitous and naturally symbiotic with plants. Its technology outcomes include increased yield potential and sustainability indicators.
It has filed more than 200 patents and patent applications and introduced its first biostimulant products in the United States for corn and soy.
The company’s plans for 2024 include a new EPA-registered biopesticide technology shown to repel corn rootworm in corn plants, new biostimulant technologies for peanut and cotton, and continued research and development around rice yield, nitrogen efficiency and methane reduction impact.
FinSMEs
20/12/2023