Micropep, a Raleigh, NC-based company which specializes in micropeptide crop protection technologies, raised additional $11M in funding.
Backers included Corteva Inc., through its Corteva Catalyst platform, Sparkfood SA, as well as all existing investors, bringing the total Series B round to $40M and total funding to over $60M.
The company intends to use the funds to extend its ability to solidify its position in the market, strengthen existing partnerships, and build new relationships with R&D, manufacturing, commercial, and distribution companies within the industry.
Led by CEO Thomas Laurent, Micropep Technologies specializes in micropeptide technology. The company has developed a proprietary AI-powered discovery platform for micropeptides, which are short protein molecules naturally produced by plant cells and have an infinite number of applications. Micropep’s proprietary discovery platform, Krisalix™, allows researchers to discover new micropeptide molecules seamlessly and rapidly for more efficient and environmentally friendly crop protection compared to traditional methods used within the industry. Krisalix measures efficiency, stability, and production feasibility by combining proprietary micropeptide design algorithms with a unique suite of bioassays.
The company has operations in the US and France.
FinSMEs
26/09/2024