附近上门

Agriculture tech startup has raised $100 million in a new round of funding, the company Thursday.

Subscribe to the 附近上门 Daily

The Series C round was co-led by and , according to a from the company. DCVC also participated in the round

The new funding will be used to scale its microbial nitrogen technology, which the Berkeley-based company says increases crop yields, and in turn, farmers鈥� revenues.

Instead of using synthetic nitrogen, farmers can apply the company鈥檚 product, Pivot Bio Proven, in-furrow when they plant their crops. As the roots grow in, the microbes cling onto the epidermis of the roots, forming somewhat of a symbiotic relationship, according to Pivot Bio鈥檚 website. The microbes feed off the exudates of the plant, and in turn provide nitrogen for the plant.

The company says with its cleaner nitrogen, farmers will have more consistent yields and reduce carbon dioxide emissions.

鈥淧ivot Bio is addressing one of the most difficult challenges facing agriculture in the 21st century 鈥� reducing dependence on damaging synthetic fertilizer while increasing crop yields and creating better outcomes for farmers,鈥� DCVC managing partner said in a statement.

鈥淒CVC led Pivot Bio鈥檚 early rounds and remains a major backer because we believe the company will truly transform global agricultural practices,鈥� he said.

The company raised its Series B in October 2018 and its Series A in March 2016, according to 附近上门.

Illustration: