Ag Startup Inocucor Adds $9.5M for Microbes that Improve Yields, Soil
Frank Vinluan for Xconomy: A growing number of agtech startups are researching biological products that work with the community of microorganisms in and around plants. Denver-based Inocucor has developed microbes intended to improve plant and soil health and it now has $9.5 million in additional financing to support its efforts to bring these products to crops.
The latest investment adds on to a $29 million financing that Inocucor raised last year, bringing the total for that Series B round to $38.5 million. The company says it will use the cash to ramp up production and marketing of its microbes.
Inocucor has developed and patented a process that combines strains of bacteria, yeasts, and fungi, to form its biostimulant products. When applied to plant seeds or on farm fields, or used in indoor growing operations, the company says these products can help improve crop yields, shorten growing periods, and help form healthier and more resilient soil. Inocucor also says that its products allow farmers to reduce the amount of crop chemicals that they apply to their fields.
Inocucor has two products. Synergro is a formulation of live microbes that the company says supports plant roots and improves the quality and the yield of a harvest. The company says Synergro can be used on a wide range of crops, such as strawberries, tomatoes, melons, and fruit-bearing trees. Inocucor’s second product, Synergro Free, is a biofertilizer that can be applied with other fertilizers or herbicides. Full Article:
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