Pluton Biosciences raises $16.5m Series A funding to fight climate change

Pluton Biosciences raises $16.5m Series A funding to fight climate change

Published: 26-05-2023 10:31:00 | By: Pie Kamau | hits: 3035 | Tags:

Pluton Biosciences, a startup leveraging the power of microbes to create cost-effective innovative solutions that address sustainability challenges facing agriculture, announced the close of a $16.5 million Series A funding round. The round was co-led by Illumina Ventures and RA Capital, with participation from existing investors Fall Line Capital, The Grantham Foundation, and First In Ventures, as well as new investors Wollemi, Radicle Growth (first investment from their second fund), and iSelect.

Elizabeth Gallegos, CEO, Pluton: "The funding will accelerate the development of Pluton's flagship product, the Microbial Cover Crop, through field trials and towards commercial partnerships. It will also enable us to expand our team, advance a microbial-derived pesticide to combat the fall armyworm, and harness the full potential of our Micromining™ platform to swiftly identify tailored solutions for agriculture."

Michael Gillespie, Life Sciences VC, RA Capital: "Pluton's technology will benefit farmers' bottom lines as well as our environment. Microbial Cover Crops will enrich the soil with nitrogen to increase crop yields while reducing fertilizer costs, improving profits and sustainability, limiting erosion, and boosting both soil quality and carbon sequestration. We are proud to support Pluton in their work to improve nature's toolkit and revolutionize agriculture."

Concurrent with this investment, agricultural industry veterans Jerry Steiner and Neal Gutterson, also joined Pluton's Board of Directors. Steiner, Board Executive Chair, is enthusiastic about Pluton's promise to utilize discoveries to make a positive impact on both agriculture and climate. 

www.plutonbio.com