ImpactAlpha, December 1 — For decades, modern agriculture has relied extensively on chemical-based, often environmentally destructive crop treatments.
Belgium-based Aphea.Bio is among the growing roster of agtech startups developing safer bio-based pesticide and herbicide alternatives. Its Series B financing will help bring to market products to help farmers reduce fertilizer use and control fungal diseases in maize and wheat.
The equity round was led by Brussels-based Astanor Ventures, which closed a $325 million impact fund to invest in U.S. and Europe-based startups addressing climate issues in agriculture and food production (see, “Astanor Ventures raises $325 million for sustainable food and ag-tech”).
V-Bio Ventures, Agri Investment Fund, PMV Vives Fund, VIB, Qbic II and Gemma Frisius Fund also participated.