GROUNDWORK BIOAG RAISES $11 MILLION TO ADVANCE BIOAGRICULTURE GLOBALLY
MAZOR, ISRAEL (ots) - --News Direct--
- Accelerating Production Capacity to Meet Demand for Regenerative Agriculture
Products
- Serving One Million Acres (400 KHa) in 2021
Groundwork BioAg (http://www.groundworkbioag.com) announced today it raised $11
million in venture capital financing led by Ibex Investors with the
participation of ProDelta and Future Foodways. Previous investors, including
MoreVC, Middleland Capital, Axess Ventures and BPD Agri, materially participated
in the round. With this new funding, Groundwork BioAg will accelerate and expand
production of its mycorrhizal platform to meet global demand for natural,
sustainable solutions that increase agricultural productivity while preserving
soil health.
- Accelerating Production Capacity to Meet Demand for Regenerative Agriculture
Products
- Serving One Million Acres (400 KHa) in 2021
Groundwork BioAg (http://www.groundworkbioag.com) announced today it raised $11
million in venture capital financing led by Ibex Investors with the
participation of ProDelta and Future Foodways. Previous investors, including
MoreVC, Middleland Capital, Axess Ventures and BPD Agri, materially participated
in the round. With this new funding, Groundwork BioAg will accelerate and expand
production of its mycorrhizal platform to meet global demand for natural,
sustainable solutions that increase agricultural productivity while preserving
soil health.
Groundwork BioAg, a global bioagriculture technology company, produces highly
effective mycorrhizal inoculants. Mycorrhizae are a cornerstone of regenerative
agriculture best practices. In addition to increasing yields, these natural
products reduce dependency on phosphorus fertilizer and improve carbon
sequestration in soil. Through distribution partnerships in strategic markets
across five continents, the company is helping farmers improve the efficiency of
major crop production, including corn, soybeans, grains, bio-energy crops,
fruits and vegetables, and cannabis.
"Over the past few years, we have focused on building production capacity to
support millions of hectares and solidify our global presence in the main
agricultural markets. With this investment and strong sales, we will be able to
fulfill our mission to bring mycorrhiza - the queen of biologicals - to
mainstream agriculture and help farmers succeed while protecting our planet,"
said Dr. Yossi Kofman, Co-Founder and CEO of Groundwork BioAg. "We look forward
to working with our investors, strategic partners and distributors to continue
bringing meaningful value to farmers around the world."
While naturally occurring in the Earth's soil, mycorrhizae and other beneficial
microbes have been destroyed by modern farming practices, including tilling,
pasteurization and over fertilization. Following years of research and product
development, Groundwork BioAg is the first to crack the code on mass production
of highly concentrated, cost-effective mycorrhizal inoculants that improve yield
and soil health. The company's flagship products include Rootella® for
commodity, organic and specialty crops, and DYNOMYCO® for cannabis.
Following record sales in both the 2019 and 2020 growing seasons, the company is
rapidly scaling up production to meet demand expected in 2022 and beyond.
Approximately one million acres (400 Kha) will benefit from the company's unique
products in 2021.
Disruptive Technology VC Chooses Groundwork BioAg As First Investment in AgTech
"We are pleased to add Groundwork BioAg to our portfolio - not only because of
its strong in-field performance and continued growth trajectory, but also
because its technology provides the most compelling solution to increase yield
while protecting our environment," said Gal Gitter, Managing Director of Ibex
Investors focused on growth stage investments. "With its high efficacy and broad
applicability, Groundwork BioAg can feasibly treat over one billion hectares,
nearly all of the world's farmland, with these beneficial fungi."
Headquartered in Denver, Colorado with offices in Tel Aviv and New York, Ibex
Investors is a multi-strategy investment firm targeting outsized returns through
differentiated global strategies. Ibex invests internationally in Israel, which
has the highest concentration of start-up companies outside Silicon Valley.
The funding demonstrates Groundwork BioAg's strong growth position and enables
efforts to expand its platform technology and accelerate production capacity to
meet global demand for regenerative agriculture products.
About Groundwork BioAg
Groundwork BioAg, a global bioagriculture company, leverages the natural power
of mycorrhizal fungi to improve the productivity, sustainability and
profitability of commercial agriculture and expand regenerative agriculture
practices. Groundwork BioAg is the first to use innovative techniques to solve
challenges inherent in high-volume mycorrhizal inoculant production. We will not
rest until every hectare of arable land is protected by mycorrhizae and every
farmer benefits from higher crop yields while preserving our soils. For more
information, visit http://www.groundworkbioag.com
Contact Details
AgTech PR for Groundwork BioAg
Jennifer Goldston
+1 816-260-0040
mailto:jennifer@agtechpr.com
Company Website
https://www.groundworkbioag.com
View source version on newsdirect.com: https://newsdirect.com/news/groundwork-bi
oag-raises-11-million-to-advance-bioagriculture-globally-104733057
2021 News Direct Corp.
Additional content: http://presseportal.de/pm/152041/4914122
OTS: News Direct
effective mycorrhizal inoculants. Mycorrhizae are a cornerstone of regenerative
agriculture best practices. In addition to increasing yields, these natural
products reduce dependency on phosphorus fertilizer and improve carbon
sequestration in soil. Through distribution partnerships in strategic markets
across five continents, the company is helping farmers improve the efficiency of
major crop production, including corn, soybeans, grains, bio-energy crops,
fruits and vegetables, and cannabis.
"Over the past few years, we have focused on building production capacity to
support millions of hectares and solidify our global presence in the main
agricultural markets. With this investment and strong sales, we will be able to
fulfill our mission to bring mycorrhiza - the queen of biologicals - to
mainstream agriculture and help farmers succeed while protecting our planet,"
said Dr. Yossi Kofman, Co-Founder and CEO of Groundwork BioAg. "We look forward
to working with our investors, strategic partners and distributors to continue
bringing meaningful value to farmers around the world."
While naturally occurring in the Earth's soil, mycorrhizae and other beneficial
microbes have been destroyed by modern farming practices, including tilling,
pasteurization and over fertilization. Following years of research and product
development, Groundwork BioAg is the first to crack the code on mass production
of highly concentrated, cost-effective mycorrhizal inoculants that improve yield
and soil health. The company's flagship products include Rootella® for
commodity, organic and specialty crops, and DYNOMYCO® for cannabis.
Following record sales in both the 2019 and 2020 growing seasons, the company is
rapidly scaling up production to meet demand expected in 2022 and beyond.
Approximately one million acres (400 Kha) will benefit from the company's unique
products in 2021.
Disruptive Technology VC Chooses Groundwork BioAg As First Investment in AgTech
"We are pleased to add Groundwork BioAg to our portfolio - not only because of
its strong in-field performance and continued growth trajectory, but also
because its technology provides the most compelling solution to increase yield
while protecting our environment," said Gal Gitter, Managing Director of Ibex
Investors focused on growth stage investments. "With its high efficacy and broad
applicability, Groundwork BioAg can feasibly treat over one billion hectares,
nearly all of the world's farmland, with these beneficial fungi."
Headquartered in Denver, Colorado with offices in Tel Aviv and New York, Ibex
Investors is a multi-strategy investment firm targeting outsized returns through
differentiated global strategies. Ibex invests internationally in Israel, which
has the highest concentration of start-up companies outside Silicon Valley.
The funding demonstrates Groundwork BioAg's strong growth position and enables
efforts to expand its platform technology and accelerate production capacity to
meet global demand for regenerative agriculture products.
About Groundwork BioAg
Groundwork BioAg, a global bioagriculture company, leverages the natural power
of mycorrhizal fungi to improve the productivity, sustainability and
profitability of commercial agriculture and expand regenerative agriculture
practices. Groundwork BioAg is the first to use innovative techniques to solve
challenges inherent in high-volume mycorrhizal inoculant production. We will not
rest until every hectare of arable land is protected by mycorrhizae and every
farmer benefits from higher crop yields while preserving our soils. For more
information, visit http://www.groundworkbioag.com
Contact Details
AgTech PR for Groundwork BioAg
Jennifer Goldston
+1 816-260-0040
mailto:jennifer@agtechpr.com
Company Website
https://www.groundworkbioag.com
View source version on newsdirect.com: https://newsdirect.com/news/groundwork-bi
oag-raises-11-million-to-advance-bioagriculture-globally-104733057
2021 News Direct Corp.
Additional content: http://presseportal.de/pm/152041/4914122
OTS: News Direct