Dec. 21, 2018
Its origin is in Spain using a model that partners closely with academic research, and with the closing of the first allotment in its latest round of $6.9 million dollars in Series B funding, PlantResponse Biotech will open a new headquarters in Research Triangle Park, North Carolina.
Investors in the Series B round include Yara Germinate, iSelect, Bayer Ventures, Middleland Capital, and Novozymes.
“Our company is uniquely positioned to source technologies to bring more options to growers as they tackle stresses in the field,” says Tom Snipes, CEO of PlantResponse Biotech.
The company has yet to commercialize products in the U.S., but its pipeline includes products for plant health, stress mitigation, and nutrient management. All products are biological in origin or use natural chemistries. Snipes says they are in the final stages of regulatory approval for their first products, and the company aims to sell its first products in the U.S. in 2019.
The company is charting its distribution via ag retail. Tom Warner, who was previously with Nutrien Ag Solutions, has been named the company’s chairman of the board.
“Our appointment of Tom Warner says a lot about our commitment to ag retail,” Snipes says. “Our entire team has deep roots in retail. And we think that speaks volume of the value we see in the channel.”
The company is current seeking retail partners in the U.S. and Canada. He sees their retail partners as helping to identify the geographic and crop markets.