By: Kairos Ventures On: October 23, 2019 In: Portfolio News, Provivi

Provivi - Kairos VenturesCongratulations to Provivi for completing an $85 million Series C financing!

The round was co-led by Pontifax Global Food and Agriculture Fund and a global investment fund, with participation from new investor Tybourne Capital Management and existing investors Kairos Ventures, Spruce Capital, Lanx Capital, and BASF Venture Capital.

“The Series C financing is a significant milestone in the growth of our company and builds upon an exciting year where we scaled the production of key pheromone active ingredients, continued to demonstrate the efficacy of our products in row crops, and worked closely with farmers to demonstrate the value being created by our pheromones in field trials.” – Dr. Pedro Coelho, co-founder and CEO of Provivi

“The Series C financing is a significant milestone in the growth of our company and builds upon an exciting year where we scaled the production of key pheromone active ingredients, continued to demonstrate the efficacy of our products in row crops, and worked closely with farmers to demonstrate the value being created by our pheromones in field trials,” said Dr. Pedro Coelho, co-founder and CEO of Provivi. “The extraordinary conditions facing growers all over the world caused by invasive pests renews our sense of urgency to scale our solutions.”

Provivi is developing a family of safer, effective, and economical solutions for crop protection based on pheromones as a foundation for integrated pest management. Pheromones are natural products used by insects of the same species to facilitate mating. The application of pheromones to a field allows for the control of damaging pests while preserving beneficial insects. Provivi’s patented production methods enable a step change in the cost of manufacturing pheromones, allowing use of this proven approach in large-acreage crops such as corn, rice, and soy.

Proceeds from the Series C financing will support the launch of Provivi’s pheromone products as part of the Company’s mission to bring this innovative solution to farmers around the world.

In conjunction with the funding, Dr. Philip Erlanger, co-Managing Partner of Pontifax AgTech, will join the company’s board of directors. Dr. Barbara Mazur, an expert in plant biology and a member of Pontifax AgTech’s Strategic Advisory Board, will serve as a board observer. Mr. Bosun Hau, Managing Director and Co-Head of Private Equity at Tybourne Capital Management, will also serve as a board observer.

The company intends to use the funds for the launch of pheromone products.

Founded in 2013 by Dr. Pedro Coelho, Dr. Peter Meinhold, and 2018 Nobel laureate Dr. Frances Arnold, Provivi is developing a family of solutions for crop protection (such as corn, rice, and soy) based on pheromones as a foundation for integrated pest management. Pheromones are natural products used by insects of the same species to facilitate mating. The application of pheromones to a field allows for the control of damaging pests while preserving beneficial insects.

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