Ag-tech start-up WeedOUT, Ltd., announces it has secured USD $8.1m in A-round funding to reduce the prevalence of herbicide resistant weeds.
Leading the round is Fulcrum Global Capital, a prominent US agri-focused VC with ties to a vast network of farmers across the US.
The infusion of new capital will advance the company’s mission to combat weed resistance through its green solution.
Other participants in the equity round include Bunge Ventures, the investment arm of the leading agriculture and food company Bunge and the Singapore Headquartered agrifood tech fund Clay Capital.
The new funding is in addition to several grants received by the company from the Israeli Innovation Authority.
The company created a novel and environmentally conscious approach to significantly curbing proliferation of weeds that no longer respond to commonly used chemical herbicides.
“Resistant weeds that plague crops are a major challenge for farmers globally—and the situation has only worsened,” asserts Kevin Lockett, partner at Fulcrum Global Capital.
“Fulcrum Global is excited to support WeedOUT’s biological platform. The company’s integrated management approach aligns with existing farm practices and could enable growers worldwide to produce more food on the same amount of land and in a sustainable way.”
The company’s first target is the Palmer amaranth weed (Amaranthus palmeri), found commonly in the US, Brazil and Argentina.
The weed can grow up to several meters high and invade fields of corn, cotton, soybeans, and sugar beets. It can crash corn crop yield by 90% and soybean yield by 80%.
The prolonged use of chemical herbicides, such as glyphosate, has enabled weeds to develop multiple resistance pathways.
WeedOUT’s novel method takes inspiration from sterility techniques used successfully since the 1940s for controlling populations of unwanted insects, such as mosquitoes and flies.
It centres on a proprietary weed pollen derived from the male plants. This sterile pollen fertilises the female weed ovules, yielding nonviable seeds and effectively impeding the growth of a new generation of resistant weeds.
WeedOUT is the first to apply this time-tested method to weed control.
