Missouri, USA-based provider of R&D crop development services to Agtech companies, Solis Agrosciences, raised an undisclosed amount of funding in growth capital. The company announced the round on December 8, 2022. Hermann Companies, Jim McKelvey, and BioGenerator Ventures led the financing for the firm.
Purpose of funding for Solis Agrosciences
With the latest capital injection, Solis aims to expand with additional talent and infrastructure to meet the needs of a growing customer base.
What the company’s officials have to say
Mary Fernandes, President and Co-founder of Solis Agrosciences, said, “We are thrilled to receive this investment. This funding and our early success validate Solis’ model of providing high-quality R&D services to power our clients’ product development. It is our mission to make Agtech innovation faster, better, and more capital-efficient. This investment will allow us to expand our operations and better serve our clients in the US and globally. We are grateful to our clients for their trust and partnership.”
In addition, Solis Co-founder and Board Chair Martha Schlicher said, “Solis began as a conversation with Charlie Bolten at BioGenerator Ventures about what opportunities and needs might be created by predicting where the Agtech space is headed. Consolidation of large agricultural companies has followed the path of Pharma – innovation critical to feed a growing world in a changing climate is now occurring off-balance sheet. This means crucial technologies the world urgently needs will come from startups. No place is better positioned than the 39 North Agtech cluster in St. Louis to provide the infrastructure needed for these to succeed. As a key provider of these capabilities, Solis is already having a strong positive impact on the ecosystem, and its platform is attracting startups from around the world.”
Besides, Tom Cohen, who helped co-found Solis while a Director at BioGenerator Ventures, said, “To ensure Solis can meet its growing customer demand, we needed to expand our greenhouse and field capabilities. A key use of this growth financing is to acquire Fahr Greenhouse, an operational wholesale greenhouse facility in St. Louis County. We plan to modify the Fahr facility over time to address Solis’ customer needs while keeping its core floriculture business operational for current customers. This will ensure efficient and scalable growth for Solis.”
What the investor has to say
Robert Hermann, Jr., Chairman and CEO of Hermann Companies, said, “Hermann has known the principals at Solis for years and jumped at the opportunity to help lead this financing. Solis’ business aligns perfectly with the Food & Ag strengths of St. Louis and Hermann.”
What the client of Solis Agrosciences has to say
Michael Lassner, Chief Scientific Officer of Amfora, Inc., an Agtech company focused on increasing the protein content of crops and a Solis client, further added, “Solis’ Plant Pipeline as a Service is the best-integrated resource imaginable for gene editing, plant transformation, plant analysis, and greenhouse operation. Working with Solis is like having our own in-house team to manage our pipeline. They are great partners dedicated to our success.”
About the company
Ag executives Martha Schlicher and Mary Fernandes, biotech startup entrepreneurs David Smoller and Tom Cohen, and Charlie Bolten, Sr. Managing Director at company builder BioGenerator Ventures, launched Solis Agrosciences as a collaboration between them in May 2022. The company operates in the specialised agricultural biotech research segment. It seeks to meet customer demand by continually launching new services, adding new crop species, acquiring new technologies, and building world-class infrastructure in an eco-friendly way.
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