Micropep Technologies has successfully closed its Series B funding round with an additional US$11 million commitment.

This investment, from new investors Corteva Inc. through its Corteva Catalyst platform, Sparkfood SA, as well as all existing investors brings the total Series B round to $40 million and elevates the company’s total funding to over $60 million.

The capital will propel ongoing support for Micropep’s pipeline of sustainable micropeptide solutions by harnessing the power of its proprietary discovery platform, Krisalix, to develop affordable, effective crop protection solutions.

Micropep’s proprietary discovery platform, Krisalix, allows researchers to discover new micropeptide molecules seamlessly and rapidly for more efficient and environmentally friendly crop protection compared to traditional methods used within the industry. Krisalix, a robust screening tool, measures efficiency, stability and production feasibility by combining proprietary micropeptide design algorithms with a unique suite of bioassays.

“On the heels of the initial raise of $29 million for this round, this increased investment in Micropep will accelerate our time to market,” said Thomas Laurent, chief executive officer and co-founder of Micropep. ‘We are grateful to our incoming investors, Corteva and Sparkfood, for their partnership and confidence in our ability to be a new hope for sustainable agriculture for future generations.”

Corteva, Inc., through its Corteva Catalyst platform, collaborates with entrepreneurs and innovators to accelerate the development of early-stage, disruptive technologies that enable farmers to sustainably produce more food and feed.

Sparkfood is a subsidiary of Sonae, a multinational Portuguese holding company backed by a long-term value-driven family. Sparkfood funds and fuels next-generation of food companies towards a sustainable, healthier future.

Micropep says that micropeptides are unique in that they combine new modes of action, have a great safety profile, offer strong efficacy in the field at an affordable cost to farmers, and offer a solution to the increasing resistance to traditional chemical alternatives. Because of this, Micropep is positioned to offer an entirely new category of sustainable crop protection active ingredients based on micropeptides to the industry, working collaboratively with select partners throughout the different stages of the product development lifecycle.

This $11 million in supplemental financing will extend Micropep’s ability to solidify its position in the market, strengthen existing partnerships and build new relationships with leading R&D, manufacturing, commercial and distribution companies within the industry.

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