WeedOUT, a Ness Ziona, Israel-based agtech startup, raised USD8.1M in Series A funding.
The round was led by Fulcrum Global Capital with participation from Bunge Ventures and Clay Capital.
The company intends to use the funds to advance its mission to further expand field trials in multiple regions in the U.S., including Georgia and Nebraska, as they move to launch its inaugural product targeting the Palmer amaranth weed (Amaranthus palmeri), a major nuisance in the United States, Brazil, and Argentina.
Led by Co-CEOs Efrat Lidor Nili, and Dr. Orly Noivirt-Brik, WeedOUT provides a green solution for outsmarting resistant weeds that supports improved yield, and reduced herbicide need. It centers on a proprietary weed pollen derived from the male plants. This sterile pollen fertilizes the female weed ovules, yielding nonviable seeds and effectively impeding the growth of a new generation of resistant weeds.
The company recently submitted a request to the Environmental Protection Agency for marketing approval and is developing new formulations targeting different weed species.
FinSMEs
20/02/2024