Brazilian startup Symbiomics makes plant nutrition and biostimulants that boost agricultural productivity and crops’ resilience against pests and harsh environmental conditions.
The startup closed its Series A round with an equity investment from Corteva Catalyst, the investment arm of Indiana-based Corteva Agriscience that backs agricultural innovations. Brazilian investors included the agritech-focused venture capital firm Arar Capital, Cazanga which supplies limestone for soil correction products, impact investment manager MOV Investimentos, and the Yield Lab Latam which previously invested in the round.
Symbiomics is currently testing products with its partners and plans to bring its products to market within three years.
Bio-based
Symbiomics uses gene editing and genome sequencing among other technologies to produce microorganisms that can be used in place of synthetic fertilizers.
It is part of Brazil’s fast-growing bio-based ag sector, driven by the country’s embrace of sustainable farming and a spate of multimillion dollar deals. Israeli fertilizer and chemicals producer ICL acquired Brazil’s Nitro 1000 last year for $30 million. Belgian biotech firm Biobest acquired Biotro, a Brazilian producer of bio-based fertilizers and stress mitigation products in a €532m ($622 million) deal in 2023. The Netherlands’ Koppert Biological Systems acquired BUG Agentes Biológicos, a Brazilian producer of bio-based crop protection products, in 2017.
