Fa Bio secures a £5.3m investment from Clean Growth Fund
UK-based biotech Fa Bio has secured a £5.3 million investment from three European venture capital firms, as well as existing shareholders and new private investors.
Fa Bio works to protect natural ecosystems by identifying superior microbial bio-products that can improve soil health and boost crop production. Based at the Rothamsted Research Centre in Harpenden, UK, Fa Bio – previously known as FungiAlert – is pioneering the discovery and development of superior microbial bioproducts, including biocontrols, biostimulants and biofertilisers that can replace chemical inputs in agriculture.
The investment was co-led by Clean Growth Fund, a UK-based clean-tech venture capital (VC) fund, and Pymwymic, an impact VC fund focused on investing in food and agriculture technologies based in the Netherlands. Ship2B Ventures, a Spanish impact VC fund investing in early-stage companies addressing key environmental and social issues, also invested in the round.
The funding will be used to support the commercialisation of Fa Bio’s technology, the company’s ongoing research work and fund the expansion of its team.
Fa Bio utilises its ‘SporSenZ’ technology, a targeted microbial sampling strategy, to collect data and microbial isolates from agricultural fields. With its team of scientists, the company then looks to develop the most promising microbes into agricultural bioproducts for the ‘most important crops’ in the global food system.
Angela de Manzanos Guinot, Fa Bio’s CEO, said: “Our innovative technology and game-changing bioproducts have the potential to boost crop productivity and provide a natural alternative to chemical fertilisers, protecting the world’s natural ecosystems. With this latest round of investment, we can accelerate our R&D work and development of bioproducts for the agriculture sector and achieve our vision of revolutionising sustainable agriculture.”
Jonathan Tudor, investment partner at Clean Growth Fund, commented: “We are excited to be supporting Fa Bio’s next phase of growth…Given the challenges – natural and man-made – that agriculture is facing across the world, Fa Bio has significant growth potential. We are delighted to be investing in the UK biotech sector and excited by the carbon emissions reduction that Fa Bio’s technology can achieve in agriculture.”
The investment in Fa Bio is Pymwymic’s fifth investment of its ‘Healthy Food Systems Impact Fund II’, Clean Growth Fund’s third investment in the UK biotech sector and Ship2B Ventures’ third investment in the agri-food space.