News in brief: Danish biotech startup Bioomix has secured $6.3 million in funding, led by West Hill Capital and featuring participation from other investors, to advance its microbial solutions for farmers.
A Danish biotech startup, Bioomix, announced that it has raised $6.3 million in fresh funding round led by West Hill Capital with participation from PreSeed Ventures (PSV), Planetary Impact Ventures, HBL Invest, and David Hollidge.
The funding will be used to accelerate the development and manufacturing of Bioomix’s innovative microbial solutions for farmers. Its products are designed to help farmers improve crop yields, reduce their reliance on synthetic fertilisers and pesticides, and boost soil health.
Bioomix’s microbial solutions are based on a deep understanding of the soil microbiome, the community of microorganisms that live in the soil. Its scientists have identified and isolated specific microbes that have beneficial effects on plant growth and soil health.
The start-up’s products are already being used by farmers in a number of countries around the world. For example, its flagship product Bioomix Crop, a microbial bio stimulant, has been shown to increase crop yields by up to 15%. It is also effective at reducing the need for synthetic fertilisers and pesticides.
PSV DeepTech Fund Director, Anders Kjær, said that Bioomix represents the kind of startups that it is looking to invest in. “We have made an unwavering commitment to only support technology and products that are right for the world and for the end customer,” he commented.
For Planetary Impact Ventures managing partner, Thomas Hagenhaven, there is an urgent need to foster living soils while reducing fertiliser dependence, and adapting to changing climate and decreasing leaching of nitrogen to rivers. Thus, the investment firm chose to back Bioomix because its solutions will help farmers adopt regenerative farming practices.
