Nanomik Biotechnology raises €800k seed round to expand the use of biological plant protection

Rockstart, global early stage VC and accelerator, announces its co-investment in Nanomik Biotechnology, a Rockstart AgriFood portfolio company. The €800k round was led by TRAngels, alongside Rockstart, C Ventures, and Arya Women Angel Investment. With the new funding, Nanomik Biotechnology plans to accelerate its growth and expand into new markets by 2024.

Plant pests and diseases in the agricultural industry significantly threaten crop production. FAO estimates that up to 40 percent of global crop production is lost to pests annually. Each year, plant diseases cost the global economy over $220 billion, and invasive insects account for an additional $70 billion loss. Diseases and pests in crops are combated via synthetic plant protection products, but many of these products are banned or restricted. The market for biological plant protection products (biopesticides) that are safe for nature, biodiversity, and humans is growing day by day. The global biopesticides market was valued at $7,012.70 million in 2020 and is projected to reach $33,638.90 million by 2031, growing at a CAGR of 13.9% from 2022 to 2031. The European Union additionally aims to reduce the use of synthetic pesticides by 50% by 2030. 

Nanomik Biotechnology's microencapsulation technology offers increased resilience against harsh environmental conditions, making biomolecules found in nature a dependable choice for plant protection. Since 2018, Nanomik Biotechnology has developed microencapsulated biological plant protection products for growers or large producers that i) are not affected by seasonal climatic differences, ii) have a long duration of action, iii) combat different diseases or pests simultaneously iv) do not leave harmful residues in nature and on crops. More than 120 field trials within greenhouses, vineyards, and garden plants demonstrate the success of this solution against disease and pests. The products developed by Nanomik Biotechnology have been available in Turkey since 2020 and in the MENA market since 2022. In addition, the startup carried out 14 field tests in 7 different countries via various partnerships. 

"Since 2018, we have been working to prove the effectiveness and real benefit of our products in different geographical areas of the world. We are happy to take another step towards our global goals with this investment round, and we would like to thank all our investors who share the same excitement."

——Arda Örçen, CTO & Co-founder, Nanomik Biotechnology

"As TRAngels angel investment network, our focus is on early-stage technology startups. Since our establishment, we have been tracking startups that have the potential to create added value not only locally, but also in global markets. The exponential increase in global problems in recent years has led to the proliferation of green startups. Agriculture is at the top of these global challenges. We are proud to accompany Nanomik's development towards becoming a unicorn which produces solutions for health. "

——Hale Umul, Chairman, TRAngels

"Scalable and climate-friendly solutions are essential if we are to mitigate climate change and preserve both biodiversity and crop yield. We continue to invest in Nanomik thanks to their pioneering technologies, which allow farmers to replace chemical applications that cause contamination of soil and water and loss of biodiversity. "

——Mark Durno, Managing Partner, Rockstart AgriFood

"Today, food shortage has become one of the most important problems facing the world. We are one of the first investors in Nanomik, which started out with this path by developing microencapsulated biopesticides that ensure the quality and durability of food and agricultural products. We are happy to continue to support them in their efforts to reduce carbon footprint, an area of strategic importance for C Ventures. "

——Nergiz Çakmak Özdemir, CEO Office Director, C Ventures 

"This is a major step forward for Nanomik, we now have diversified investors who believe in the founders and technology they create. Also, one should expect major achievements in agri-technology of Nanomik both in terms of products and geography. The success behind startups has a relation with the founders and their improvement during the long path and since I experienced Nanomik's improvement from the first day I am sure it will be a success story. "

——stated Namık Kural, angel investor

"Arya angels invest in tech startups with diverse founding teams. Diversity delivers impact and returns concurrently. Nanomik is an excellent example of Arya’s vision and we are proud to have Nanomik among our portfolio companies. "

——Özlem Tümer Eke, Director of Investments, Arya Women Angel Investment

The Rockstart AgriFood fund is Rockstart’s first fund launched in 2019. Rockstart AgriFood has 41 portfolio companies to date with 37 investments in 2022 alone, making Rockstart one of the most active AgriFood investors in the world. The Rockstart AgriFood portfolio companies have collectively raised more than €40m in total thus far.

About Nanomik 

Nanomik Biotechnology produces biological plant protection products by making nature-borne molecules resistant to environmental factors with its patented biopolymer-based microencapsulation technology. Quite to contrary to traditional synthetic spraying programs, they create zero-residue, long-acting, broad-spectrum effective spraying programs for their customers with enhanced encapsulated biologics. As a result of the tests carried out in 4 different countries in different climatic conditions in 2020, it entered the market with its first product, the biological-origin fungicide "Mikoks", and has ensured the protection of a total of 15,000 hectares of crops against fungal diseases since 2020. In 2022, it transferred its technology to a different segment and introduced its biological insecticide products to its customers and expanded its product portfolio.