A company called Green & Grow is really living up to its name.
The Austin-based producer of bio-products to improve ag productivity just announced it’s raised $6 million in a Series B, with Otter Capital as the lead investor. Green & Grow told AgFunder that Otter held the large majority stake in the round, with a few previous private investors contributing, interesting in increasing their holdings. After the company secured funds from the same VC that invested in the well-known biopesticide company, AgraQuest, and more recently the agtech company, BioConsortia, Green & Grow plans to use the funds to speed up commercializing its Agriplier products.
“Since our first meeting, we have been impressed with Otter Capital’s knowledge and commitment to the biological product space,” said Alan Sobba, President and CEO of GGI. “We look forward to John’s valuable input and guidance as we work together to complete the commercialization of our exciting technology.”
Green & Grow’s Agriplier products are non-living, non-toxic, microbe-derived by-products that may be used in seed and soil conditioners. The technology uses metabolites and stimulants, and produced the best results in the 2013 Independent Professional Seed Association (IPSA) trials. The company says the products continue to bode well in field trials, and that because the solutions are compatible with existing chemical and living biological products, the transition from production to use will be made easier.
“I am excited by the potential for selected biologically derived products to make a significant impact in the agriculture industry,” said John Pasquesi, Managing Member of Otter Capital and former Chairman of the Board of AgraQuest. “The 2013 Green & Grow field trial results illustrate that its technology has already made the critical leap from the lab to achieving success in the field. I look forward to working with the GGI team to optimize the delivery of their technology to market and to continue to build the business.”
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Green & Grow says that it’s now in talks with industry folks to bring Agriplier to the commercial level, and they’re hopeful that Otter Capital’s name and experience will give them a leg up.
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FEATURED PHOTO: Thangaraj Kumaravel/Flickr