Lucent Bio, a Vancouver, Canada-based agricultural technology company, raised over $3.6M in funding.
The round was led by PacifiCan.
Led by CEO Michael Riedijk, Lucent Bio is a leader in the sustainable agriculture industry. Nutreos, their innovative seed treatment technology, is a biodegradable and micro-plastic free seed coating designed to promote strong germination, vigour, and crop establishment, supporting the transition of traditional agriculture inputs to sustainable alternatives.
This announcement follows the opening of Lucent Bio’s Soileos micronutrient fertilizer plant in Rosetown, Saskatchewan, earlier this month.
This investment allocates resources to enhance the formulation and effectiveness of Nutroes as it transitions from a lab concept to a field-ready product. Lucent Bio will also utilize the funding to expand its market presence. A portion of the funding will be directed towards ensuring Nutreos’s production processes align with environmental sustainability standards. From sourcing raw materials to manufacturing, Lucent Bio will uphold eco-friendly practices, contributing to a cleaner agricultural industry.
FinSMEs
08/11/2023