RTP, North Carolina, Aug. 25, 2022 (GLOBE NEWSWIRE) -- Vestaron, a leader in peptide-based biological crop protection, announced the addition of $10M to its Series C fundraising, adding Grosvenor Food & AgTech as an additional investor, and bringing the total raise to $92M. Grosvenor Food & AgTech joins Ordway Selections, Cavallo Ventures, Argonautic Ventures, Fortistar, Endeavor8, Novo Holdings, Northpond Ventures, CGC Ventures, iSelect and Syngenta Ventures in this round.
Headquartered in Research Triangle Park, NC, Vestaron is proving false the narrative that efficacy is sacrificed for the safety benefits of biological insecticides. The company has developed highly effective peptide-based biological insecticides, priced at parity with leading chemical pesticides, and designed to be soft on honeybees as well as other pollinators and beneficial insects, and also safe for fish and mammals. The SPEAR® brand family of products provides a novel and unique mode of action in a biological solution as effective as synthetic options, creating the opportunity to incorporate the new IRAC Group 32 into rotation recommendations for resistance management.
The additional funding will enable Vestaron to accelerate the development of its product pipeline, consisting of additional peptide empowered solutions, each with a novel mode of action. These offerings will change the approach to integrated pest management strategies by providing a portfolio of powerful and rotatable solutions for growers to overcome pesticide resistance without sacrificing performance or safety – emPOWERED by peptides for the sustainability of farms, farmers and the planet. This funding will also fuel Vestaron’s expansion from specialty fruit, vegetable and nut crops into broad acre row crops and into new insect pest categories.
“Grosvenor Food & AgTech partners with businesses that leverage innovative technology to improve the world’s production of food. Vestaron’s platform of effective peptide-based solutions are on a path to transform crop protection,” explained Monty Bayer of Grosvenor Food & AgTech. “The future of global food systems depends on the ability of growers to successfully grow and profitably sell their crops, and we’re excited to invest in Vestaron’s sustainable, people- and pollinator-friendly pesticides that can vastly reduce the $70B in crop losses now faced by growers each year."
Vestaron’s CEO, Anna Rath, welcomes the partnership, “We’re excited to work with Grosvenor Food & AgTech because of their deep experience investing in the agtech sector. They’re one of the longest established investment firms in the space, and we look forward to leveraging their strengths as we continue to grow.”
About Vestaron Corporation
Vestaron is leading a peptide-based revolution in crop protection. We are committed to providing growers with novel, effective peptide-based biopesticides that address proven targets. Our peptides overcome existing resistance issues while offering a desired safety profile for workers, beneficials and the environment. Vestaron has earned global recognition for its work, including the inaugural 2015 Bernard Blum Award for novel biocontrol solutions, the prestigious Green Chemistry Challenge Award from the U.S. Environmental Protection Agency and the American Chemical Society Green Chemistry Institute in 2020 and Best New Biologic Product in the 2021 Crop Science Awards.
More information at www.vestaron.com
About Grosvenor Food & AgTech
Grosvenor Food & AgTech (previously known as Wheatsheaf Group) is an international investor in food and agriculture businesses. Our focus is to rethink and re-shape how food is grown, produced, distributed and consumed. We partner with like-minded people to understand the complex interconnectedness of our agricultural ecosystem to manage its effects and enhance human health, our environment and enable producers to thrive. We are one of the largest and longest established investment teams in the sector. Adopting a far-sighted perspective, we aim to develop innovative business models and harness the insights and power of technology to identify, develop and scale up lasting solutions. We are a values-led organisation which represents the Grosvenor family. Our work in food and agtech, alongside Grosvenor’s other activities in international urban property, rural estate management and support for philanthropic initiatives, shares a common purpose - to deliver lasting commercial, social and environmental benefit - addressing today’s needs while taking responsibility for those of future generations.
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