February 10, 2022 – (Research Triangle Park, North Carolina) – Innatrix, a company dedicated to reducing chemical pesticide usage while increasing crop yield and return on investment for farmers, through development of eco-friendly peptide and GMO bioprotectants, announces the first capital financing, led by Ag Ventures Alliance and Innova Memphis.
With its proprietary protein evolution platform for the optimization of peptide-based bioprotectants, Innatrix is leading the development of a novel class of crop protection products – peptides (small proteins) and RNAi GMOs that are anticipated to have the same efficacy as traditional synthetics but with the safety and environmental friendliness of biologics. These products provide an essential new tool for growers as some existing products face increasing regulatory pressure due to environmental concerns and others decline in their efficacy due to the development of resistance.
Jiarui Li, CEO of Innatrix said: “The crop protection industry is facing many challenges. Many existing solutions are being pulled from the market because of environmental concerns, and those that remain face the prospect of far more rapid development of resistance with fewer options for rotation. Product development costs and timelines are increasing, and the pace of introduction of new active ingredients is decreasing. A sustainable future for agriculture requires innovation. Innatrix’s rich pipeline of safe, environmentally friendly bioprotectants is anticipated to have the efficacy of synthetics, while meeting the rising bar of regulatory scrutiny. They are an essential element of empowering growers productivity and enabling the future sustainability of the industry.”
Jiarui also said: “This funding will allow us to work with farmers from AgLaunch Farmer Network, to test our initial product(s) for Soybean Cyst Nematode (SCN) control in field trials. In addition, the funding will allow Innatrix to identify more peptide leads to control other critical pathogens, such as potato late blight and citrus greening, further diversifying in our product offering.”
Innatrix is developing eco-friendly peptide and GMO products to control critical crop diseases, such as soybean cyst nematode, late blight and citrus greening. We anticipate helping farmers reduce chemical pesticides use 30%, increase the yield at least 10%, to make farm business more profitable.
About Ag Ventures Alliance
Ag Ventures Alliance is a nationally recognized farmer-owned organization that’s primary purpose is making early-stage investments in dynamic founders developing innovative technologies in agriculture. The organization is on a mission to increase farm profitability through innovation. Learn more at www.agventuresalliance.com.
About Innova Memphis
Innova Memphis is an early-stage venture capital firm, founded in 2007, that focuses on starting and funding high-growth companies in the Medical, Technology and AgTech fields that match both Innova’s expertise. Innova Memphis has invested in over 128 companies and has been recognized by both Crunchbase Forbes, and SSTI in their rankings of most active, early- stage investors. Innova provides the synergy of experienced management, market expertise and venture capital to accelerate the development of new products and services into thriving businesses. For additional information please visit www.innovamemphis.com.