Puna Bio has closed its Series A round, with an investment from the Gates Foundation, the foundation’s first investment in an Argentine startup.

A month ago, Puna Bio announced its Series A round, led by Corteva Catalyst and backed by other global investors focused on climate and agricultural innovation.

Puna Bio says the funding will accelerate the development, production and distribution of its biofertilizers and biostimulants, which are based on extremophile bacteria. The collaboration aims to bring these products to smallholder farmers in developing regions across Africa.

As part of this partnership, Puna Bio will work closely with the Gates Foundation to test and adapt its technologies to local conditions and co-develop new targeted solutions to “support food security at a global scale.”

“We believe this partnership is deeply aligned with Puna Bio’s mission of ensuring food security at a global scale,” says Franco Martínez Levis, CEO and co-founder of Puna Bio. “Our science-backed biological inputs, already in use in South America, can boost crop yields in a reliable and cost-effective manner, even in challenging weather conditions. By expanding our efforts to Africa, we aim to scale our impact, improve lives, and contribute to the long-term sustainability of global agriculture.”

With operations across the U.S., Brazil, Paraguay and Argentina, Puna Bio’s two current commercial products – Kunza (for soybeans, cotton and beans) and Kanzama (for wheat and barley) – have already been deployed on over 800,000 acres.

With this new strategic investor, Puna Bio successfully closes its Series A round, alongside At One Ventures, SP Ventures, Dalus Capital, Glocal LATAM, Builders VC, and Grid Exponential.