Copenhagen-based Agtech startup Agrobiomics, which focuses on developing natural solutions to ensure a sustainable food supply and make agriculture more resilient to climate change, has raised €4 million in a seed round from NOON Ventures to boost resilience in agriculture.
- Founded in 2022 by Mathilde Nordgaard and Jonas Arnold Jürgensen-Breum, Agrobiomics develops a biological solution, Fortify, that enhances plant resilience against climate-induced stressors like drought and salinity.
- Agrobiomics' Fortify product significantly boosts crop and plant robustness under drought and salinity conditions. With ongoing field trials for soy and corn, Fortify integrates seamlessly into existing agricultural practices, presenting a $2 billion market opportunity.
- In 2023, Agrobiomics was awarded the Innovation Fund Denmark Innobooster grant of €1.4 million to support the development of its biostimulant. Agrobiomics' solution has already demonstrated a significant impact on sustainable agriculture, helping to secure the global food supply. The company plans to continue investing in trials across various crops, including soy, corn, and tomatoes, and across multiple geographies, including Europe, North and South America, Asia, and Africa.
Details of the deal
- The investment was backed by NOON Ventures, a Copenhagen-based venture capital firm, that invests in tech startups addressing environmental and climate challenges. The firm's portfolio consists of 5 startups, including Enduro, Spectro Inlets, and Phlit.
“Agrobiomics has the potential to become a key enabler in building a climate resilient agricultural system with a biological solution that plugs directly into existing supply chain and agronomic practices. We are proud to be backing the team and look forward to work together with them on advancing the technology and bring its products to the market,” Partner at NOON Ventures, Theis Malmborg, stated.
- The financing round will allow the startup to scale up production and conduct large-scale field-testing of its solutions for abiotic stress protection, thereby accelerating its time to market.
