We are pleased to announce that our portfolio company Provivi, Inc. closed on the first $21 million of a $31.5 million Series B financing round led by Kairos Ventures with participation from Spruce Capital and other existing investors.
“We’re at an exciting stage in Provivi’s development. The Series B investment validates our continued progress to establishing pheromones as a universal foundation for integrated pest management.”
– Dr. Pedro Coelho, Co-Founder and CEO of Provivi
Provivi is an emerging company using natural processes to create safer, more effective, and more environmentally benign products for crop protection. BASF Venture Capital and DuPont Pioneer also participated in the round as strategic investors.
“We’re at an exciting stage in Provivi’s development,” said Dr. Pedro Coelho, Co-Founder and CEO of Provivi. “The Series B investment validates our continued progress to establishing pheromones as a universal foundation for integrated pest management. This funding will provide capital for product and field development in preparation for commercial launch.”
Provivi is developing natural, affordable pheromone products for pest control and crop protection. Pheromones are substances that serve as highly selective attractants for insects allowing the control of deleterious pests while preserving beneficial insects. These compounds elicit non-lethal, species-specific insect control through disrupting mating cycles, resulting in lower insect pest populations and significantly reducing crop damage and losses.
“This investment confirms the confidence that the industry has in Provivi’s technology,” said James Demetriades, Managing Partner of Kairos Ventures. “I am excited by Provivi’s continued progress in developing products which will improve the safety and sustainability of global food production.”
“We look forward to Provivi’s progress toward enabling pheromone applications for improved pest protection in row crops,” said Neal Gutterson, Vice President of Research & Development for DuPont Pioneer.
The Series B funds will support further development, testing, and commercialization of Provivi’s new pheromone products.
Congratulations to the Provivi team!