December 6, 2023

photo credit: AgroSpheres

By Lynda Kiernan-Stone, Global AgInvesting Media

Founded in 2016 by COO Payam Pourtaheri and CTO Ameer Shakeel, AgroSpheres’ mission is to dramatically improve the delivery of pesticides, making them more effective, cheaper, and more environmentally-friendly.

Working to transform agriculture through reliable and affordable biological solutions, AgroSpheres’ biomanufacturing platform has unlocked cost-effective production and successful field application of novel biological modalities.

The company’s unprecedented success in the field of foliar-applied AgriCell-RNAi technologies has garnered sharp industry attention. GAI News had the opportunity in 2019 to speak with Pourtaheri, a graduate of the University of Virginia with a background in nanomedicine, materials science, and chemistry, when he explained, “The AgriCell technology is a non-GMO bioparticle (approximately 400 nanometers), produced during the fermentation of bacterial cells, which can be loaded with synthetic chemicals and biologicals. It can protect the encapsulated active ingredients from extreme temperatures, pHs. and environmental degradation.”

But, the company recognizes that biologicals are currently faced with three key bottlenecks: cost, performance, and stability. As it strives to meet and overcome these hurdles, AgroSpheres announced in October 2022 it had raised $22 million in Series B funding co-led by  Lewis & Clark AgriFood and Ospraie Ag Science, along with participation from  Bidra Innovation Ventures and existing investor Cavallo Ventures. 

Now, the company returns to share that it has successfully raised its Series B to a total $25 million via a strategic investment from FMC Corporation, a global leader in agricultural sciences. 

As a global agricultural sciences company, FMC stated it is dedicated to discovering new herbicide, insecticide, and fungicide active ingredients, and new product formulations to help growers produce food, feed, fiber, and fuel for an expanding world population while adapting to climate change. Its innovative biologicals, crop nutrition, digital, and precision agriculture offerings enable growers, crop advisors, pest management professionals, and turf growers to address their biggest challenges in an affordable and ecologically sound manner. 

“We are honored to welcome FMC Corporation as a strategic investor in AgroSpheres,” said Pourtaheri. “Their extensive expertise in agricultural sciences and global reach make them an ideal partner for us. This investment will further empower us to continue our mission of providing more effective and sustainable solutions for the agricultural industry. Together with FMC, we will strive to make a significant impact on global agriculture.”

AgroSpheres’ cutting-edge technology enables the precise delivery of active ingredients as small molecules, peptides, and nucleic acids in crop protection products, sparking the potential to revolutionize agricultural production by improving the efficiency, efficacy, and sustainability of protection practices. 

Commenting on the investment, Mark Brooks, managing director, FMC Ventures, said, “We are excited to invest and partner with AgroSpheres, sharing a common vision for advancing agriculture. Their innovative technology has the potential to be a game changer in crop protection.”

“With broad IP protection, manufacturing capabilities, and a strong industry network, AgroSpheres stands out in agtech. We believe this investment will drive innovation and accelerate the development of sustainable solutions for farmers globally.”

~ Lynda Kiernan-Stone is editor in chief with GAI Media, and is managing editor and daily contributor for Global AgInvesting’s AgInvesting Weekly News and  Agtech Intel News, as well as HighQuest Group’s Unconventional Ag. She can be reached at lkiernan-stone@globalaginvesting.com.

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