Leuven, Belgium, 20 November 2024
New impulse in solutions for fungal diseases like Phytophthora
Agri Investment Fund (AIF) commits to €2.0 million, co-leading with VIVES IUF, in a €5.2 million seed funding round for UCLouvain spin-off BiocSol, developing next-generation microbial-based biopesticides. This investment highlights AIF’s dedication to sustainable agriculture and innovative technologies. BiocSol’s solutions, based on a decade of research, offer stable and effective crop protection using extracts instead of live microbes, benefiting major crops like potatoes and grapes.
Field-Tested Success Targeting Global Agricultural Issues
Having already demonstrated positive initial results in real field conditions, BiocSol’s first biopesticide products target late and early blight in potatoes (Phytophthora infestans and Alternaria solani) and downy mildew in lettuces and grapes. These fungal and oomycete pathogens have rapidly developed resistance against the traditional (chemical) treatments, threatening food security by destroying a significant part of the annual global harvest. With its new solutions, BiocSol provides farmers with new, efficient and sustainable tools to face this threat.
AIF’s Role and Vision
“This new investment fits well in AIF’s strategy as its first product targets potatoes, traditionally an important crop for Belgian agriculture. Moreover, it enables us to become part of the rapidly growing Wallonia AgTech ecosystem,” said Patrik Haesen, CEO of Agri Investment Fund. “We are particularly impressed by BiocSol’s innovative approach, which addresses some of the most pressing agricultural problems by creating multiple modes of action to combat pathogens that are swiftly developing resistance to current solutions.”
“By taking up the role of co-lead for this capital round for the first time, AIF is taking a next step in its development”, Sonja De Becker, President of Agri Investment Fund, adds. “While we see many investors hesitate to invest early-stage for plant protection solutions due to the longer time-to-market, we see it as our strategic role to bridge this gap and get promising companies like BiocSol started.”
AIF and VIVES IUF joined by local investors with the goal to increase to €10 million
The seed round was driven by the newly-appointed CEO Denis Payen and CTO and founder Simon Caulier, and took place with the valuable support from Sopartec SA, the technology transfer company of UCLouvain, and Invest.BW and IMBC Spinnova, two regional investment funds. By year-end Biocsol targets to increase its funding to €10 million by securing non-dilutive funding and additional capital.
About BiocSol
Founded in 2023, BiocSol, a UCLouvain spin-off, develops innovative, next generation microbial-based biopesticides with increased stability and efficiency that empower farmers to protect their crops sustainably. The company’s unique approach leverages specific microbial substances to deliver reliable, affordable solutions for key agricultural challenges like mildew, which affects raw crops such as potatoes, including high-value crops such as other vegetables and grapes. For more information, follow us on LinkedIn:https://www.linkedin.com/company/biocsol
About AIF
Agri Investment Fund BV (“AIF”) is the private equity and venture capital fund of the group Boerenbond (Farmers’ Union) and wishes through its investments to contribute directly or indirectly to a stronger and more sustainable agriculture and horticulture in Flanders and German speaking Belgium. Its investments have a focus within the Ag-Tech and Agro-Food domains aiming at stimulating innovation and as such helping to build a stronger agriculture of the future, allowing farmers and horticulturists to provide high-quality products at honest prices. More information can be found on www.aifund.be .
For further information, please contact:
AIF
Patrik Haesen, CEO
T: +32 (0)16 28 62 54 | E: pers@aifund.be
BiocSol
Saffiyah Khalique – Celine Gonzalez (Andrew Lloyd and Associates)
T: +44 1273 952 481| E: saffiyah@ala.associates – celine@ala.associates
Read the full press release: https://ala.associates/funding/biocsol-secures-e5-2m-seed-funding-to-transform-sustainable-crop-protection-with-next-generation-microbial-based-solutions-targeting-total-e10m-in-funding-by-year-end/
