Aphea.Bio, an agritech company headquartered in Ghent / Belgium and a proud portfolio company of the European Circular Bioeconomy Fund (ECBF), revealed on Tuesday, July 11, the successful closing of an oversubscribed Series C funding round, raising an impressive €70M.their pursuit of making a substantial impact in this field.
With a focus on bolstering sustainable agriculture practices, this investment reinforces the ECBF’s dedication to cultivating a healthier and more robust food system.
The funding round was spearheaded by Innovation Industries, accompanied by Korys Investments, the Bill & Melinda Gates Foundation, SFPIM, BNP Paribas Fortis, and existing shareholders.
Investment Allocated for Research and Development Purposes
Aphea.Bio has announced its intention to utilize the capital to fuel its rapid expansion. The funds will be instrumental in advancing research and development efforts in the field of biologicals, scaling up product launches, expanding market presence, and effectively commercializing product offerings.
Isabel Vercauteren, CEO of Aphea.Bio, expresses enthusiasm over securing Series C funding, which not only validates their mission to enable sustainable, profitable, and reliable farming but also propels the company towards successful commercialization.
Vercauteren further highlights that this investment provides the opportunity to broaden operations and bring products to the market on a larger scale. This expansion will enable Aphea.Bio to address critical agricultural challenges and cater to the needs of farmers worldwide, while ensuring accessibility and affordability for smallholder farmers in low-income countries.
Powering the Biologicals Revolution
Established in 2017 by Isabel Vercauteren and Steven Vandenabeele, Aphea.Bio is dedicated to ensuring food security and a resilient, healthy food supply chain.
“Our mission is to deliver innovative, science-based solutions that shape the agriculture of tomorrow: sustainable, reliable, and profitable,” states the company.
Aphea.Bio stands as a fully integrated microbial product development firm, providing scientifically grounded solutions to foster a prosperous, dependable, and sustainable agriculture industry.
With their distinctive high-throughput APEX R&D platform, harnessing the vast potential of the microbial realm, Aphea.Bio has successfully cultivated an extensive pipeline of biostimulants and biocontrol products derived from naturally occurring microorganisms.
Current Development & Growth
Aphea.Bio is experiencing significant growth during the funding period, characterized as “remarkable” by the company. Currently, the workforce comprises more than 50 scientists and industry experts, and there are plans to expand research facilities by opening a new pilot plant later this year.
Furthermore, notable progress has been made in Aphea.Bio’s product line. The company recently entered the market with the introduction of CTIV, a biostimulant seed treatment.
Looking ahead, Aphea.Bio aims to launch its initial maize biostimulant in 2024. Additionally, the company is preparing to seek regulatory clearance for its first biofungicide in the United States in the first quarter of 2024, followed by a similar clearance application in Europe in the third quarter of 2024.
About The European Circular Bioeconomy Fund (ECBF)
Established in 2020, ECBF (The European Circular Bioeconomy Fund), headquartered in Luxembourg, holds the distinction of being the inaugural venture fund exclusively focused on the bioeconomy and circular economy. The fund actively supports forward-thinking European entrepreneurs who are spearheading the shift from a reliance on fossil fuels to a bio-based economy.
ECBF’s primary objective is to accelerate the transition toward a more sustainable future by investing in growth-stage companies operating in the biobased sector, emphasizing their potential for groundbreaking innovation, promising returns, and lasting impact.
ECBF, boasting €300M in assets under management (AUM), primarily directs its capital towards investing in captivating and impactful enterprises located within the EU-27 or countries affiliated with the 16-HORIZON 2020 program.
Stéphane Roussel, a Partner at ECBF, expresses his admiration for the investment made in Aphea.Bio, stating, “ECBF takes pride in aligning with Aphea.Bio as they establish themselves as a leading pioneer in the agricultural biologics market.”
He further elaborates, “The oversubscribed Series C funding round will provide Aphea.Bio with the means to expedite their mission of transforming agriculture through the utilization of groundbreaking, science-based microbial solutions. This investment not only fortifies our partnership but also propels our collective endeavors toward achieving a more sustainable agri-food system.”