NewLeaf Symbiotics, Inc. (NewLeaf) announced that it recently completed the final close of its Series D financing as it broadens and accelerates product commercialization. SABIC Ventures US Holdings LLC (“SABIC”), Koch Agronomic Holdings, Leaps by Bayer, Otter Capital, S2G Ventures and RockPort Capital were all participants in the investment round.
NewLeaf, a plant microbiome technology company, has developed a new class of biological products containing proprietary M-trophs. This unique class of microbes, which are commercialized under the brand name of Terrasym®, has been found to increase crop yield, naturally protect against pests and diseases, enhance grain and fruit quality and improve plant nutrition. During the 2020 growing season, over 300,000 acres of corn and soybeans were planted with NewLeaf’s Terrasym products.
As part of the financing plan, the company will continue to enhance its strong R&D and product platforms while commercializing into broad acre row crops – currently corn, soybeans and peanuts. In addition, NewLeaf will extend its reach into specialty vegetables while continuing to work closely with Joyn Bio as it develops its microbial engineering platform around NewLeaf’s beneficial plant colonizing microbes (M-trophs).
SABIC’s Munif Al-Munif, General Manager Agri-Nutrients Technology, said, “We chose to invest in NewLeaf because we believe biologicals will begin to supplement and complement our portfolio. We see NewLeaf as being best positioned to help accelerate that move with its Terrasym® products based around M-troph class of naturally occurring microbes. We look forward to our partnership with NewLeaf.”
“The addition of two new strategic investors into Series D, SABIC Ventures US Holdings LLC and Koch Agronomic Holdings, is clear evidence that major players in the Ag industry are recognizing the increasing importance that biologicals will play in agriculture. We are pleased that they chose NewLeaf as their partner for biologics,” said Steve Kahn, co-founder and CEO of NewLeaf Symbiotics.
NewLeaf’s unique focus on M-trophs, a class of ubiquitous pink microbes that naturally colonize roots and leaves of all plants, overcome the limitations of current biological inputs by delivering benefits throughout the growing season. Crops treated with Terrasym products are healthier, which leads to greater nutrient uptake and increased yield potential.