Pivot Bio raises $430 M in Series D funding
The funding will fuel the company's accelerating release of disruptive products
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Pivot Bio, a leading nitrogen innovator in agriculture, announced the close of a $430 million Series D funding led by DCVC and Temasek, bringing the total equity raised to more than $600 million. The funding will fuel the company's accelerating release of disruptive products focussed on replacing the $60 billion of synthetic nitrogen fertiliser sold each year just to sustain corn, wheat and rice.
Pivot Bio has replaced synthetic nitrogen on more than 1 million crop acres in 2021 alone, representing more than 300 per cent growth year-over-year and unprecedented agricultural product adoption. Pivot Bio's clean nitrogen immediately decreases and permanently prevents synthetic nitrogen emissions from the environment, potentially avoiding approximately $200 billion of environmental impact.
Generation Investment Management, G2 Venture Partners, and Rockefeller Capital Management join returning investors in Pivot Bio's Series D, including Series D co-leads DCVC, also the Seed, Series A lead, and material investor in all funding rounds since the company's inception, and Temasek, also Series C co-lead; Breakthrough Energy Ventures, the Series B lead and Series C co-lead; Continental Grain Company; Prelude Ventures; Pavilion Capital; Bunge Ventures, the venture capital arm of the leading global agribusiness and food company Bunge; Tekfen Ventures; and Roger Underwood, the co-founder of industry-leading biological technology company Becker Underwood. Pivot Bio's next stage of growth will focus on rapidly scaling its US business and expanding into key international markets.
Pivot Bio is selling the first disruptive agricultural products in decades through a direct-to-grower model by creating mutual trust and economic success for both the farmer and the company.