Elicit Plant, an agri-biotech company specializing in biosolutions for broadacre crops, has raised €45m to accelerate its global expansion as farmers face mounting climate challenges.
Primary net proceeds to the company will enhance commercialization of existing products and support further development of new solutions, aimed at providing farmers worldwide with effective products to combat the climate uncertainties affecting their yields and ability to feed populations.
As global agricultural yields face increasing threats from frequent and extreme climate events, Elicit Plant provides solutions that leverage the unique properties of phytosterols to enhance plant health in the face of environmental stress.
Since 2022, Elicit Plant’s products have become well-established in France and strategic markets like Brazil and Eastern Europe, focusing on corn, sunflower, cereals, and soy. In addition, the company obtained marketing authorization in the US to launch its first commercial product for corn.
The company is looking to accelerate commercial development in Europe, Brazil, and the US, as well as expand strategic partnerships with major agri-input players, as initiated with Bayer, BASF and Certis Belchim to ensure on-the-ground adoption. The company also wants to focus on R&D, and expand the portfolio of phytosterols bio-based solutions for key crops, supported by strategic research partnerships.
The oversubscribed investment round was led by Carbyne Equity Partners, a private equity firm that invests in growing European businesses and a focus on R&D in its key sectors: agricultural technology, healthcare, and nutrition. Existing investors Sofinnova Partners, European Circular Bioeconomy Fund (ECBF), and Bpifrance Investissement reaffirmed their commitment.
“This fundraising is a validation of our success in the French, European, and Brazilian markets. We are at the forefront of supporting farmers in the face of growing climate impacts with proven solutions. The international adoption of our products is gaining momentum, supported by key partners like Bayer and BASF. Our objective is to strengthen our market share across three continents and become a global industry leader by 2028,” said Jean-François Déchant, CEO of Elicit Plant.
Jim Cornall is editor of Future Food Today and publisher at Ayr Coastal Media. He is an award-winning writer, editor, photographer, broadcaster, designer and author. Contact Jim here.
