Ascribe Bio raises $12 million Series A to launch Phytalix, a sustainable biofungicide, with backing from global agricultural leaders.
Ascribe Bio, a pioneering company in the field of natural crop protection, has successfully closed an oversubscribed $12 million Series A financing round. The round was co-led by Corteva through its Corteva Catalyst platform and Acre Venture Partners. Participation also came from a mix of new and existing investors, including Syngenta Group Ventures, Trailhead Capital, Silver Blue LLC, Cultivation Capital, and The Yield Lab, reflecting strong confidence in Ascribe’s innovative approach to sustainable agriculture.
The capital infusion will support the continued development of Ascribe’s proprietary small-molecule technology platform and prepare for the upcoming commercial launch of Phytalix®, a next-generation biofungicide. Phytalix is designed to deliver the best of both worlds: the health and environmental benefits associated with biological solutions, combined with the practicality, cost-effectiveness, and ease of use of conventional chemical crop protection products. This approach aims to provide farmers with effective disease control solutions that are both sustainable and economically viable.
Tom Greene, senior director at Corteva and global leader of Corteva Catalyst, highlighted the strategic significance of this investment: “Ascribe’s biological solutions offer farmers intelligent and sustainable options for managing crop diseases. This funding underscores our commitment to supporting the advancement of next-generation, nature-inspired agricultural products for growers worldwide.”
Alex Bondar, Partner at Acre Venture Partners, added, “Ascribe’s disciplined and strategic team has efficiently translated Phytalix from laboratory research to field trials. Their efforts have delivered significant yield improvements compared to existing biological solutions, a progress clearly mirrored by the impressive syndicate of investors supporting this round.”
Jay Farmer, CEO of Ascribe, expressed enthusiasm about the opportunity the funding presents: “Securing these resources allows us to accelerate the global launch of our technologies. We are proud to have the backing of leading agricultural innovators such as Corteva and Syngenta Group Ventures. This investment brings us closer to our mission of delivering highly effective, sustainable crop protection solutions to farmers across the globe.”
The Series A financing will enable Ascribe to scale up manufacturing and initiate early commercialization activities. Phytalix is expected to receive its first regulatory approval later this year in Brazil, with subsequent approvals planned for the United States and other key international markets. This strategic expansion marks a critical step in Ascribe’s journey to reshape crop protection with solutions that meet the dual goals of sustainability and productivity.
