VIB spin-off Aphea.Bio secures 70 million € Series C Funding
New funding will support the rapid growth of Aphea.Bio, solidifying its position as a frontrunner in biological product development for agriculture.
July 11, 2023
VIB spin-off Aphea.Bio, a Belgium-based agricultural technology company, announced today the successful closing of its Series C Funding round, securing € 70 million. The round was led by Innovation Industries, joined by Korys Investments and supported by Bill & Melinda Gates Foundation, SFPIM, BNP Paribas Fortis and received strong support from returning investors ECBF, Astanor, AIF as well as other existing shareholders.
The funding will allow Aphea.Bio to further advance research and development in biologicals, scale product launches, expand market reach and commercialise product offerings. The Company’s partnership with the Gates Foundation will support the development of biostimulant products designed to address the unique needs of smallholder farmers in the foundation’s priority geographies in Sub-Saharan Africa and South Asia.
Caaj Greebe, Partner at lead investor Innovation Industries states, "Aphea.Bio possesses several qualities that we actively seek in a company: a world-class team, strong scientific foundations, and promising products that can effectively tackle the significant challenges faced in modern agricultural practices. We are thrilled to have led this financing round alongside an exceptional group of investors to support Aphea.Bio in its next phase of growth towards a global commercial organisation."
David Devigne, Investment Director at Korys Investments states, “We are delighted to support Aphea.Bio in driving the biological revolution in agriculture. Aphea.Bio’s ultimate goal of addressing the ever-increasing challenge of supplying the growing world population with sufficient and healthy food while using less land and pesticides fully aligns with Korys’ investment philosophy.
Isabel Vercauteren, CEO of Aphea.Bio says, “We are excited to have secured Series C Funding, which not only validates our mission to enable sustainable, profitable, and reliable farming, but also propels us toward commercialisation. This investment will allow us to broaden our operations and bring our products to market at a larger scale, so we can address urgent agricultural challenges and meet the needs of farmers worldwide, while at the same time ensuring accessibility and affordability for smallholder farmers in low-income countries”
This new round of funding comes at a time of remarkable growth for Aphea.Bio. The company has grown into a diverse and talented team of over 50 scientists and industry specialists, and is further expanding its research facilities, with a new pilot plant set to open later this year. Moreover, Aphea.Bio is now a Certified B Corporation™, recognised for demonstrating high social and environmental impact standards.
In addition to these milestones, Aphea.Bio has also made significant strides in its product portfolio. The recent successful launch of ΛCTIV by Aphea.Bio®, a novel biostimulant seed treatment, marked the company’s first entry into the market. Looking ahead, Aphea.Bio is now actively preparing the launch of its first maize biostimulant in 2024 and is planning to submit its first biofungicide for regulatory approval in the United States and Europe in Q1 and Q3 of next year, respectively.
Aphea.Bio’s recent achievements, coupled with the successful Series C Funding, solidify the company’s position as a key player in achieving a safe and healthy food chain through sustainable agriculture.
