IBI Ag Secures $6.1 Million Funding in Series A
Deal News | Feb 13, 2025 | Trendlines Group Ltd/The
IBI Ag, a pioneering crop protection company known for its innovative bio-insecticides, has successfully completed the initial segment of its Series A funding round, securing $6.1 million. The round was led by Corteva Inc., through its Corteva Catalyst platform. Other participants included The Trendlines Group, Iron Nation, Consensus Business Group, and a grant from the Israel Innovation Authority. The funding underscores the strategic importance of IBI Ag's eco-friendly, biological solutions that leverage single domain antibodies, a technology adapted from pharmaceuticals, for effective crop protection. This approach aims to mitigate ecological impacts while targeting a broad spectrum of insects on high-value crops initially, with plans to expand into row crops. Arnon Heyman, CEO of IBI Ag, expressed enthusiasm about the backing from both existing and new investors, highlighting the potential for their technology to boost agricultural productivity sustainably. Corteva's investment reflects a strategic push towards next-generation biological solutions for agriculture.
Sectors
- Agriculture
- Biotechnology
- Private Equity and Venture Capital
Geography
- Israel – IBI Ag is based in Israel, and the article mentions a grant from the Israel Innovation Authority.
- United States – Corteva Inc., a major participant in the funding round, is based in the United States.
Industry
- Agriculture – The article pertains to agricultural technology and crop protection innovations, specifically through bio-insecticides.
- Biotechnology – IBI Ag is developing bio-insecticides using single domain antibodies, a biotech innovation adapted from pharmaceuticals.
- Private Equity and Venture Capital – The funding round for IBI Ag was led by private equity and venture capital investors, including Trendlines Group and others.
Financials
- 6.1 million – The amount raised by IBI Ag in the first part of its Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IBI Ag | Target Company | Company | A crop protection company developing bio-insecticides with a lower ecological footprint. |
| Corteva Inc. | Lead Investor | Company | A major agriculture company leading the Series A funding round for IBI Ag. |
| The Trendlines Group | Investor | PE Firm | A private equity firm participating in the funding round. |
| Iron Nation | Investor | Company | Participated in the funding round for IBI Ag. |
| Consensus Business Group | Investor | Company | Participated in the funding round for IBI Ag. |
| Israel Innovation Authority | Grant Provider | Government | Provided a grant that supports IBI Ag’s innovation. |
| Arnon Heyman | Chief Executive Officer of IBI Ag | Person | CEO of IBI Ag, quoted in the announcement of the funding round. |