ImpactAlpha, January 11 — UK-based FA Bio has raised £5.3 million (close to $7 million) to sort microbes found in agricultural fields to develop biocontrols, biostimulants and biofertilizers. Microbes are an eco-friendly alternative to chemical inputs in agriculture for crop nutrients, disease resistance and drought tolerance.
“Intensive agriculture and overuse of agrochemicals have contributed to a 70% biodiversity loss in the past 50 years, which has been made worse by the damaging effects of climate change,” said FA Bio’s Angela de Manzanos Guinot. “With this latest round of investment, we can accelerate our R&D work and development of bioproducts for the agriculture sector.”
Sustainable food products
FA Bio’s funding round was co-led by UK-based Clean Growth Fund and Dutch impact venture investor Pymwymic via its second Healthy Food Systems Impact Fund. Ship2B Ventures, a Spanish early-stage impact VC fund, also backed the round.
“FA Bio’s innovative discovery method promises game-changing products for sustainable agriculture,” said Pymwymic’s Sophie Pickering.
Separately, SQIM, an Italian biotech venture that engineers mycelium-based materials for the fashion, food, apparel and construction industries, scored €11 million in Series A funding, backed by the European Bioeconomy Fund.