ArkeaBio, a Boston, MA-based ag-biotech startup, raised $26.5M in Series A funding.
The round was led by Breakthrough Energy Ventures (BEV), with participation from The Grantham Foundation for the Protection of the Environment, AgriZeroNZ, Rabo Ventures, Overview Capital, and The51 Food & AgTech Fund.
The company intends to use the funds to advance the research, development and deployment of the vaccine, including large-scale field trials and engagement along the supply chain.
Led by CEO Colin South, ArkeaBio is an ag-biotech startup developing a vaccine to reduce ruminant methane emissions that will work with existing global agribusiness practices. The company’s vaccine will provide a solution to reduce the world’s livestock methane emissions, which currently generate the equivalent of 3 Billion Tonnes of CO2 annually and represent 6% of annual Greenhouse gas emissions.
ArkeaBio is dedicated to collaborative efforts with industry partners, regulatory authorities, and environmental organizations to bring this transformative solution to market.
Commenting on the news, Colin South said: “We are thankful for the financial support, confidence, and trust of our investors. This funding will accelerate the development of our vaccine-based solution to meet a pressing global problem.”
FinSMEs
09/05/2024