iGrow Plant Science News’ Post

ELICIT PLANT Secures $48M Series B to Accelerate U.S. Expansion Elicit Plant announced the completion of a $48 million Series B funding round to support its international expansion, with an emphasis on the U.S. Corn Belt. The investment will further the development of the company’s phytosterol-based solutions, which have shown promising results in reducing crop water use by 20%, an advancement that aligns with the urgent needs of U.S. farmers facing water scarcity challenges. The Series B funding round, led by Carbyne Equity Partners and joined by Sofinnova Partners, European Circular Bioeconomy Fund (ECBF), and BPI EcoGreenTech, will support Elicit Plant’s expansion into Europe and Brazil, alongside its U.S. ambitions. Jean-François Déchant, CEO of Elicit Plant, commented on the funding, stating, “This funding validates our product’s large-scale performance and fuels our entry into strategic markets like the U.S., pushing us toward global leadership by 2028.” The company’s products, which have been trialed across maize, cereals, sunflower, and soybeans since 2022, are designed to reduce water dependency in crops, an innovation that addresses the 23% of U.S. agricultural land affected by water stress. Read the entire article here -> https://lnkd.in/eu3YfcRU 🌟 Follow us for more updates! 📬 Subscribe to our newsletter for weekly industry updates: agtechdigest.com

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Basia Vinocur

CTO & Co-founder at Finally Foods

1w

Well done!!!!!!!!!

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