Phospholutions, Inc. secures additional funding from global Ag companies
The recent funding includes investment from Ospraie Ag Sciences (OAS), Bunge Ventures, the for-profit, global investment arm of Bunge and UPL Ltd.
Phospholutions Inc., a leader in sustainable fertilizer technology, has announced additional investment from leading global agricultural companies to support commercialization of RhizoSorb® in the US row crop market. The recent funding includes investment from Ospraie Ag Sciences (OAS), Bunge Ventures, the for-profit, global investment arm of Bunge and UPL Ltd.
“RhizoSorb® is proven to deliver the same amount of phosphorus to the plant with half the amount of applied fertilizer,” said Founder and Chief Executive Officer, Hunter Swisher. “Conventional fertilizers are inefficient as less than 25 per cent of phosphorus is taken up by the crop during the growing season. With recent increases in fertilizer prices and supply constraints in key global markets, farmers urgently need proven solutions to help maximize the return on input costs. This investment helps accelerate our commercial launch by supporting this year’s commercial trial program, strategic development partnerships, and enables product to be delivered to the US row crop market for the 2023 growing season.”
Utilizing its extensive network and 25 years of experience investing in agriculture, OAS is positioned to help farmers achieve a sustainable future. Carl Casale from OAS commented, “RhizoSorb® technology aligns closely to our venture firm’s mission to do more with less. The technology promotes increased grower profitability and reduces environmental impact to contribute to a more sustainable future for farming.”
This new investment series announced follows the Series A totaling $10.3M announced early last year, which allowed Phospholutions to more than triple in size. At the time, the investments were led by Continental Grain Company with participation from Tekfen Ventures, Maumee Ventures, Ag Ventures Alliance, and 1855 Capital. Additionally, Phospholutions recently won a $250K investment during The Radicle Challenge by UPL.
The recent funding includes investment from Ospraie