Elicit Plant, a Moulins-sur-Tardoire, Charente, France-based agri-biotech company providing biosolutions for broadacre crops, raised $48M in Series B funding.
The round was led by Carbyne Equity Partners, with participation from Sofinnova Partners, ECBF, and BPI EcoGreenTEch.
The company intends to use the funds to accelerate its worldwide expansion, with a focus on the U.S. Corn Belt. In particular it will:
- Propel U.S. market entry by 2025 and scale European and Brazilian operations.
- Expand strategic alliances, including ongoing partnerships with Bayer and BASF.
- Accelerate R&D for advanced bio-based solutions.
Led by CEO Jean-François Déchant, Elicit Plant offers phytosterol-based biosolutions that decrease crop water use by 20%, enhancing resilience against environmental stresses. It has introduced products for maize, cereals, sunflower, and soybeans, addressing water scarcity challenges.
FinSMEs
14/11/2024