Ag-tech start-up WeedOUT, Ltd., has made waves in the agricultural industry by securing an impressive $8.1 million in A-round funding. The leading force behind this funding is Fulcrum Global Capital, a U.S.-based venture capital firm specializing in agriculture, boasting strong connections to a wide network of farmers across the United States. This injection of capital marks a significant milestone for WeedOUT as it propels the company forward in its mission to combat weed resistance with its innovative green solution.
Joining Fulcrum Global Capital in this equity round are key players such as Bunge Ventures, the investment arm of the renowned agriculture and food company Bunge, and Clay Capital, a Singapore-based agrifood tech fund previously known as VisVires New Protein (VVNP). This funding comes as a valuable addition to the grants previously received by WeedOUT from the Israeli Innovation Authority, further solidifying the company’s financial standing and potential for growth.
WeedOUT’s solution addresses a critical issue in agriculture – herbicide-resistant weeds. These resilient weeds pose a significant threat to crop yields and food security worldwide. Efrat Lidor Nili, PhD, co-founder and co-CEO of WeedOUT, emphasizes the detrimental impact of weeds on crop production, highlighting the urgent need for effective weed management strategies.
The company’s initial target is the Palmer amaranth weed, notorious for its aggressive nature in infesting fields of corn, cotton, soybeans, and sugar beets in the United States, Brazil, and Argentina. With the potential to decimate crop yields by staggering percentages, the Palmer amaranth weed represents a formidable challenge for farmers. WeedOUT’s green solution offers a promising approach specifically tailored to combat this type of resistant weed, providing hope for farmers grappling with weed infestations.
WeedOUT’s innovative method draws inspiration from successful sterility techniques used in insect control for decades. By utilizing a proprietary sterile weed pollen derived from male plants, the company disrupts the reproductive cycle of female weeds, resulting in the production of nonviable seeds. This breakthrough approach offers a sustainable and environmentally conscious alternative to traditional chemical herbicides, which have contributed to the development of herbicide-resistant “super weeds.”
The successful outcomes of initial experiments conducted by WeedOUT’s founders have paved the way for extensive field trials across the U.S., focusing on cotton, soybean, and sugar beet fields. Collaborating with key opinion leaders in weed control, the company is poised to expand its trials in regions such as Georgia and Nebraska. Furthermore, WeedOUT has initiated the process of seeking marketing approval from the Environmental Protection Agency for its inaugural product targeting the Palmer amaranth weed, with plans to develop formulations for other weed species in the pipeline.
In conclusion, WeedOUT’s groundbreaking approach to weed control signifies a significant advancement in sustainable agriculture practices. With the support of prominent investors and strategic partnerships, WeedOUT is poised to revolutionize weed management and contribute to ensuring global food security in the face of escalating weed resistance challenges.