Agriculture-focused biosolutions provider GreenLight Biosciences announced the closing of its Series C funding round – which included a $25 million investment from climate solutions-focused investment business Just Climate – with proceeds aimed at expanding and commercializing its sustainable solutions that enhance agricultural productivity while preserving biodiversity.
Established in 2008, Medford, Massachusetts-based GreenLight Bio provides sustainable RNA-based solutions for farmers and beekeepers to enable more resilient food production, with a pipeline spanning categories including insecticides, fungicides, and herbicides.
The fundraising follows the launch by GreenLight Bio of Calantha, the first-ever-registered RNA-based crop protection spray. According to the company, Calantha offers potato growers a safe, easy to use, and environmentally responsible alternative to conventional chemical pesticides.
In addition to supporting the commercialization of Calantha, Greenlight Bio said that the new capital will help drive other strategic developments, including advancing its pipeline, which includes Norroa, a new tool for beekeepers to protect their colonies from varroa mites, and Fortivance, which enhances the efficiency of existing agricultural treatments and can reduce their environmental impact, as well as supporting the company’s expansion across key international markets including Brazil and other Latin American countries.
Dr. Andrey Zarur, CEO of GreenLight Bio, said:
“This strategic investment from Just Climate and others represents a powerful endorsement of our RNA platform’s potential to revolutionize agriculture while addressing environmental challenges including pollinator health. With this funding, we are well-positioned to scale our commercial operations, advance our product pipeline, expand our international footprint, and further our mission of building a safer, more equitable food system using nature.”
Founded in 2021 and chaired by former U.S. Vice President Al Gore’s Generation Investment Management, Just Climate invests in projects and companies in hard to abate sectors and geographies.
Eduardo Mufarej, head of the Natural Climate Solutions strategy and co-Chief Investment Officer at Just Climate, said:
“GreenLight Biosciences exemplifies the type of innovative enterprise that can deliver transformative environmental impact while building sustainable commercial success. Their platform addresses some of the most pressing challenges facing global agriculture and biodiversity conservation. We are pleased to support GreenLightBio’s mission and solutions that help protect crops, pollinators, and our planet’s ecosystems.”
Source - https://www.esgtoday.com
