CroBio announces completion of $1.55 million seed round

CroBio has announced the completion of $1.55 million seed round.  The round was led by The Grantham Foundation for the Protection of the Environment, with participating investors – SOSV and Ponderosa Ventures, and with continued support from Catapult Ventures.  Read the company statement below:

We are grateful to this group of investors who are committed to planetary health and sustainable futures, and who will advance CroBio's goal of enhancing global drought resilience in agriculture.

CroBio's innovative approach involves using microbes to create sponge-like materials around crop roots, which also contributes to reducing greenhouse gas emissions.

Ross Mulhall, Co-founder & CSO of CroBio said “This funding will allow us to conduct field trials with key strategic partners and expand our geographical reach. Agtech promises to be one of the leading movements in addressing the global impact of climate change and achieving worldwide food security. Wayne and I are immensely proud to be part of the broader community dedicated to advancing biological products for this critical mission.”

The Grantham Foundation for the Protection of the Environment commented "Droughts are a critically overlooked feedback loop exacerbating climate change. We are excited to support CroBio's mission to improve drought resilience in agriculture.”