Lyngby, Denmark-based insect pheromone startup BioPhero announced in March 2021 that it has raised over €14.2 million in a Series A funding round led by DCVC Bio. Other funding round participants include new investor FMC Ventures and existing investors Syngenta Group Ventures and Novo Holdings.
The startup is on a mission to substitute many chemical insecticides with sustainable biological insect pheromones. It will use the proceeds from the funding round to accelerate the production of several products and to produce pheromones at the quantity, quality, and price required to enable farmers to control major pests in a variety of row crops.
About the startup
Prof. Irina Borodina founded BioPhero in 2016 as a technology spin-out from the Technical University of Denmark. Borodina has amassed a devoted world-class team with experiences within metabolic engineering, fermentation, chemistry, and process development. The team is also participating as a group member in the EU-funded Projects OLEFINE and PHERA.
The startup secured seed funding in 2018, post which it developed and scaled up new and competent production methods for insect pheromones using microbial fermentation. The production processes use renewable raw materials, produce less waste than traditional chemical synthesis, and can deliver insect pheromones at the cost, quality, and volume required for row crops such as wheat, maize, rice, and soybeans. BioPhero claims to have fruitfully demonstrated that it can produce pheromones at a ton-scale, and the startup is now ready to commence production of its first product and to make it accessible to customers and development partners around the globe.
Statements from the investors
CEO of BioPhero Kristian Ebbensgaard said BioPhero aims to give farmers a new option, that is, to protect their crops using biological insect pheromones rather than having to depend on insecticides. He said that with row crops this has not been possible until now because pheromones are very expensive. The team is delighted to continue to appeal to such high-quality investors and views this as a testimony to the success they have had in developing and scaling biological pheromone production and delivering new options for growers.
John Hamer co-Managing Partner of DCVC Bio said they have been examining the use of insect pheromones in agriculture and new startups in this area for many years. He added that until now, no company has thrived in manufacturing pheromones at a cost and scale suitable for global use. BioPhero’s patented breakthrough platform is the only one that is delivering the cost structure, manufacturing flexibility and excellence that enable pheromones to be deployed on major row crops, he concluded.
We try our best to fact check and bring the best, well-researched and non-plagiarized content to you. Please let us know
-if there are any discrepancies in any of our published stories,
-how we can improve,
-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!
Next Story
[…] Next Story […]