Canada-based agtech startup Lucent Bio has secured a significant financial boost of over $3.6 million. This funding, provided by PacifiCan through the Business Scale-up and Productivity program, is set to catalyze the scale-up and commercialization of Nutreos, Lucent Bio's pioneering seed treatment technology.
Nutreos stands out as a biodegradable and microplastic-free seed coating, a beacon of innovation in a field that is increasingly seeking sustainable alternatives. Its design is aimed at enhancing germination, vigor, and crop establishment, marking a significant step forward in the transition from traditional agricultural inputs to more sustainable options.
The founders of Lucent Bio have expressed their excitement about the funding, which is expected to have a transformative impact on the development of Nutreos. The investment will be channeled into several key areas:
Research and Development: A portion of the funds will be dedicated to refining the formulation of Nutreos, ensuring its effectiveness as it moves from a laboratory concept to a field-ready product. This phase is crucial for maintaining Nutreos' position as a leading environmentally friendly seed treatment solution.
Market Expansion: Lucent Bio plans to use the investment to broaden the market reach of Nutreos. By expanding its availability, the company aims to meet the growing demand for sustainable agricultural products and to support farmers in their efforts to adopt eco-friendly practices.
Environmentally Responsible Production: Nutreos's production processes align with environmental sustainability standards. From sourcing raw materials to manufacturing, Lucent Bio will uphold eco-friendly practices, contributing to a cleaner agricultural industry.
The funding announcement is a testament to the potential of Nutreos to revolutionize the agricultural sector. With a focus on sustainability and innovation, Lucent Bio is poised to make a significant impact on the industry, offering a product that not only benefits the environment but also supports the productivity and efficiency of farming operations worldwide.