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- Sofinnova Partners led the Series A financing round, with the support of ECBF, Bpifrance and historical investors.
- Funds will be used to advance international growth and R&D programs of its phytosterol-based solution that addresses water stress and allows farmers to respond to climate change challenges.
Elicit Plant, an AGtech company specialized in crops’ water resistance and in the development of innovative phytosterol-based solutions, announces it has raised €16 million in a Series A round financing. The capital component was led by Sofinnova Partners, with the support of ECBF, Bpifrance, and historical investors, Aquiti Gestion-NACO fund and Credit-Agricole Charente Perigord Expansion, the rest of the funding came from a banking pool and public programs from Region Nouvelle Aquitaine and Bpifrance.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220206005004/en/
Elicit Plant was founded in 2017 with the ambition to become a sustainability transition champion in agriculture and respond to the global challenge of water stress in crops. The firm’s proprietary technology platform brings a breakthrough solution in the water stress resistance market, which is part of the €4 Bn global market of biostimulants. Through its laboratories located in a precision farm in the Charente region in France, and its Brazilian …
Full story available on Benzinga.com
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