IBI Ag Secures $6.1M to Enhance Cost-Effective Bioinsecticides
Deal News | Feb 13, 2025 | Ag News
IBI Ag, an Israel-based bioinsecticide company, has secured $6.1 million in the first tranche of its Series A funding, led by Corteva through its investment platform, Corteva Catalyst. Other participants included Israeli agtech VC the Trendlines Group, Iron Nation, and Consensus Business Group, alongside a grant from the Israel Innovation Authority. IBI Ag focuses on creating cost-effective bioinsecticides using nanobodies, which are significantly smaller than traditional antibodies used in agriculture. The bioinsecticides are designed to be safe for the environment while effectively managing pests. IBI Ag intends to use this funding to scale production and begin regulatory processes in the U.S., with plans to extend into Latin America and Europe.
Sectors
- Agriculture and Agtech
- Biotechnology
Geography
- Israel – IBI Ag is based in Israel, and the core technology was developed there.
- United States – The U.S. is identified as the first target market for IBI Ag's expansion and regulatory approval efforts.
- Latin America – IBI Ag plans to register products in Latin America, noted for a favorable regulatory environment for bio-tech innovations.
- Europe – Europe is among the target markets for IBI Ag's future product registrations.
Industry
- Agriculture and Agtech – The article pertains to the agriculture sector with a focus on agtech innovations, specifically the development of bioinsecticides.
- Biotechnology – The development of nanobodies as bioinsecticides places IBI Ag within the biotechnology industry.
Financials
- $6.1 million – Total amount raised in the first tranche of IBI Ag's Series A funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| IBI Ag | Target company | Company | An Israel-based company developing cost-effective bioinsecticides using nanobody technology. |
| Corteva | Lead investor | Company | Agriculture company leading the $6.1 million funding round through its Corteva Catalyst platform. |
| The Trendlines Group | Investor | Company | Israeli agtech venture capital firm that participated in the funding round and co-founded IBI Ag. |
| Iron Nation | Investor | Company | Participated in the Series A funding round for IBI Ag. |
| Consensus Business Group | Investor | Company | Part of the investor group in IBI Ag’s Series A funding. |
| Israel Innovation Authority | Grant provider | Government | Provided a grant as part of the Series A funding for IBI Ag. |
| Arnon Heyman | CEO of IBI Ag | Person | Chief Executive Officer of IBI Ag, driving the company’s strategy and development efforts. |
| Amir Ayali, PhD | Co-founder | Person | One of IBI Ag’s founders, contributing to the company's scientific and technological advancements. |
| Rony Oren Benaroya, PhD | Co-founder | Person | Co-founder involved in the development and scientific support for IBI Ag. |
| Tom Greene | Senior director at Corteva | Person | Senior director at Corteva, involved in the investment through Corteva Catalyst. |