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Agragene Announces Another Funding Round After Relocation To St. Louis

Mar 20, 2023•over 2 years ago
St. LouisAgriculture and Farming

Investors

Agency, LlcValerie Martin+1Ospraie Ag Science LlcBio Generator VenturesAgrageneBryan WitherbeeOasSpotted Wing DrosophilaBio Generator Ventures Managing Director Matt Helms‘’Biogenerator VenturesAgragene Ceo Bryan WitherbeeOspraie ManagementBio GeneratorOspraie Ag ScienceStephanie Gamez, Director Of R&D

Description

Agragene, Inc., a sustainable agricultural technology company developing novel biological crop pest protection products, announced today that it has raised $2 million in an A2 financing round. The funding round led by BioGenerator, a venture capital firm that invests exclusively in St. Louis companies, will expand field trials and commercialization of Agragene’s eco-friendly alternatives to synthetic pesticides. Ospraie Ag Science (OAS), the venture arm of New York-based Ospraie Management, a commodities and basic industries firm, also participated in this funding round after leading seed rounds for the company.

Company Information

Company

Agragene, Inc.

Location

9885 MESA RIM ROAD, SUITE 103

St. Louis, Missouri, United States

About

Agragene has developed Precision-Guided Sterile Insect Technology that will reduce grower’s reliance on the 6 billion pounds of pesticides used on crops each year. Agragene is ready to deploy its first “Knock-Out” product in the field which targets spotted wing drosophila. The “Knock-Out” product will benefit crop growers in 3 key ways. 1) The product is much cheaper than the chemical pesticides used now, 2) scarce and expensive field labor is not required and 3) the resulting pesticide-free crop can be Organic-approved which increases grower’s profits. Importantly, “Knock-Out” is non-toxic to bees, other beneficial organisms, the environment and humans. With many states and countries banning pesticides growers must look to safer and cheaper alternatives. Agragene has the solution.

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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