Elicit Plant and BASF France-Agro Division are partnering to accelerate the development of the biostimulants EliSun-a and EliGrain-a, specifically designed for the sunflower and cereal markets in France.

EliGrain-a, specially formulated for cereals, and EliSun-a, designed for sunflower cultivation, are bio-solutions based on patented technology that utilizes the natural properties of phytosterols, enabling plants to optimize their water management.

Elicit Plant raises US$48 million

Elicit Plant also announced a $48 Million B Series funding round to accelerate its worldwide expansion, with a particular focus on the U.S. Corn Belt.

Elicit Plant’s technology platform has enabled the development of phytosterol-based biosolutions, natural molecules compatible with sustainable agriculture. Since 2022, Elicit Plant has successfully launched effective products for maize, cereals, sunflower and soybean crops, boosting plant resilience and providing a unique solution to water scarcity.

Elicit Plant is poised to strengthen its presence and will dedicate a substantial part of the new funding to make a breakthrough in the U.S. market. Following the successful registration of its product Bomafit Corn in key Corn Belt states in 2024 (Iowa, Minnesota, Ohio, Iowa, Minnesota, North and South Dakota, Nebraska, Missouri, Indiana, Ohio, Kansas, Wisconsin, Illinois, Michigan, Arkansas), the company is ready to launch its product in 2025 and expand its product range to soybean and other crops by 2027.

“This funding has been possible thanks to the validated performance of our products at large scale and our fast-growing success in the French, European and Brazilian markets,” said Jean-François Déchant, CEO of Elicit Plant. “As the global demand for our products grows, this fundraising provides us with the resources to enable us to enter strategic markets like the United States and become a global leader by 2028.”

This investment round was led by Carbyne Equity Partners, a private equity fund, with participation from existing investors Sofinnova Partners, ECBF, and the the Ecotechnologies Fund II managed by BPI France Investissement.