Montreal-based ag biotech firm, Inocucor Technologies Inc. has secured an interim round of capital from venture capital fund, Cycle Capital Management, which made its first investment in the company in 2013, and Desjardins Innovatech, a cooperative financial group with more than $200 billion in assets.
Inocucor uses technology similar to that used in winemaking, incorporating 15 different strains of yeast and bacteria to produce biological solutions that improve seed germination and improve crop yield through the building of healthier soil.
Inocucor’s growth strategy focuses on forging partnerships using its intellectual property as a key element of the development of new bio-protection and bio-stimulant products. In October 2014 Inocucor signed an agreement with McGill University to produce a new class of sustainable bio-stimulant production for large scale agriculture that will have the potential to increase crop yields by 10% to 15%, and this investment will support the firm’s commercialization of its ‘second generation cell-free bio-stimulant product’. The funds will also be used to acquire additional technologies and products currently being investigated and screened by the company.
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