Elicit Plant, an agri-biotech company specializing in biosolutions for broadacre crops, has secured €45 million in a recent funding round. The investment was led by Carbyne, with continued support from existing investors Sofinnova Partners, the European Circular Bioeconomy Fund (ECBF), and Bpifrance Investissement.
“As an investor committed to advancing circular bioeconomy, we at ECBF are proud to support Elicit Plant in their Series B funding round. Their groundbreaking work in plant-based stress resistance aligns perfectly with our mission to drive global environmental impact through sustainable agricultural innovation. We believe Elicit Plant's solutions hold immense potential to empower farmers globally and contribute to more resilient and sustainable farming practices.” adds Stéphane Roussel, Partner at ECBF.
The company plans to use the funds to expand the commercialization of its current products and to develop new solutions aimed at helping farmers address climate-related challenges. Elicit Plant’s biosolutions leverage the properties of phytosterols to enhance plant health under environmental stress. Since 2022, their products have been adopted in France and strategic markets such as Brazil and Eastern Europe, focusing on crops like corn, sunflower, cereals, and soy. Additionally, the company has obtained marketing authorization in the U.S. for its first commercial corn product.
The company’s strategy includes accelerating commercial development in key markets—Europe, Brazil, and the U.S.—and expanding partnerships with major agricultural input companies like Bayer, BASF, and Certis Belchim to promote product adoption. A significant portion of the investment will also support research and development to expand their portfolio of phytosterol-based solutions for various crops.
Carbyne Equity Partners, the lead investor, focuses on European businesses with strong market positions and a commitment to research and development in sectors such as agricultural technology, healthcare, and nutrition. Their involvement underscores the growing interest in sustainable agricultural solutions.
Elicit Plant’s CEO, Jean-François Déchant, views this funding as validation of the company’s progress in various markets. He emphasized the company’s commitment to supporting farmers facing climate impacts and outlined a goal to strengthen market share across three continents, aiming to become a global industry leader by 2028.
“This fundraising is a validation of our success in the French, European, and Brazilian markets. We are at the forefront of supporting farmers in the face of growing climate impacts with proven solutions. The international adoption of our products is gaining momentum, supported by key partners like Bayer and BASF. Our objective is clear: to strengthen our market share across three continents and become a global industry leader by 2028, and this fundraising provides us with the resources to achieve it,” concludes Jean-François Déchant, CEO of Elicit Plant.
This investment highlights the increasing importance of developing agricultural solutions that address climate change and support global food security. Elicit Plant’s focus on enhancing plant resilience through biosolutions positions it as a key player in the evolving agricultural landscape.
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