NewLeaf Symbiotics completes final close of its Series D financing; SABIC Ventures US Holdings LLC joins as strategic investor
ST. LOUIS, December 1, 2020 – NewLeaf Symbiotics, Inc. (NewLeaf) announced that it recently completed the final close of its Series D financing as it broadens and accelerates product commercialization. SABIC Ventures US Holdings LLC (“SABIC”), Koch Agronomic Holdings, Leaps by Bayer, Otter Capital, S2G Ventures and RockPort Capital were all participants in the investment round.
NewLeaf, a plant microbiome technology company, has developed a new class of biological products containing proprietary M-trophs. This unique class of microbes, which are commercialized under the brand name of Terrasym®, has been found to increase crop yield, naturally protect against pests and diseases, enhance grain and fruit quality and improve plant nutrition. During the 2020 growing season, over 300,000 acres of corn and soybeans were planted with NewLeaf’s Terrasym products.
As part of the financing plan, the company will continue to enhance its strong R&D and product platforms while commercializing into broad acre row crops – currently corn, soybeans and peanuts. In addition, NewLeaf will extend its reach into specialty vegetables while continuing to work closely with Joyn Bio as it develops its microbial engineering platform around NewLeaf’s beneficial plant colonizing microbes (M-trophs).
SABIC’s Munif Al-Munif, General Manager Agri-Nutrients Technology, said, “We chose to invest in NewLeaf because we believe biologicals will begin to supplement and complement our portfolio. We see NewLeaf as being best positioned to help accelerate that move with its Terrasym® products based around M-troph class of naturally occurring microbes. We look forward to our partnership with NewLeaf.”
“The addition of two new strategic investors into Series D, SABIC Ventures US Holdings LLC and Koch Agronomic Holdings, is clear evidence that major players in the Ag industry are recognizing the increasing importance that biologicals will play in agriculture. We are pleased that they chose NewLeaf as their partner for biologics,” said Steve Kahn, co-founder and CEO of NewLeaf Symbiotics.
NewLeaf’s unique focus on M-trophs, a class of ubiquitous pink microbes that naturally colonize roots and leaves of all plants, overcome the limitations of current biological inputs by delivering benefits throughout the growing season. Crops treated with Terrasym products are healthier, which leads to greater nutrient uptake and increased yield potential.
About NewLeaf Symbiotics
NewLeaf Symbiotics is an agricultural technology company engaged in discovery, development, production, and commercialization of products containing beneficial plant microbes (M-trophs). NewLeaf’s family of products helps farmers increase yield by promoting stronger plants and better nutrient uptake, ultimately contributing to the transformation of agriculture towards a more sustainable future. Its 35+ member team is based in BRDG Park at the Donald Danforth Plant Science Center in St. Louis, MO. Visit NewLeaf Symbiotics at https://newleafsym.com/.
About Saudi Basic Industries Corporation
Saudi Basic Industries Corporation, SABIC’s parent company, is a global diversified chemicals company, headquartered in Riyadh, Saudi Arabia. Saudi Basic Industries Corporation manufactures on a global scale in the Americas, Europe, Middle East and Asia Pacific, making distinctly different kinds of products: chemicals, commodity and high performance plastics, agri-nutrients and metals.
Saudi Basic Industries Corporation supports its customers by identifying and developing opportunities in key end markets such as construction, medical devices, packaging, agri-nutrients, electrical and electronics, transportation and clean energy.
Saudi Basic Industries Corporation recorded a net profit of US$ 1.5 billion in 2019. Sales revenues for 2019 totalled US$ 37.3 billion while total assets stood at US$ 82.6 billion. Production in 2019 was 72.6 million metric tons.
Saudi Basic Industries Corporation has more than 33,000 employees worldwide and operates in around 50 countries. Fostering innovation and a spirit of ingenuity, Saudi Basic Industries Corporation has 12,540 global patent filings, and has significant research resources with innovation hubs in five key geographies – USA, Europe, Middle East, South Asia and North Asia.
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