BiocSol secures €5.2M seed funding to transform sustainable crop protection with next generation microbial-based solutions, targeting total €10M in funding by year-end
- Built on decade of research at UCLouvain, BiocSol’s next generation microbial-based solutions bring cutting-edge, sustainable crop protection without use of live microbes, resulting in higher stability and efficacy for major crops like potatoes, other vegetables and grapes, critical for sustainable agriculture
- Field-tested success: BiocSol’s first biopesticide products targeting late and early blight in potatoes (Phytophthora infestans and Alternaria solani) and downy mildew in lettuces and grapes have already been tested in real field conditions, demonstrating positive initial results in effective crop protection
Louvain-la-Neuve, Belgium, November 20, 2024 – BiocSol, a UCLouvain spin-off specialized in sustainable crop protection solutions, today announces the successful closure of its initial seed funding round, securing €5.2 million ($5.6M) in equity. Built on a decade of research at UCLouvain’s Earth & Life Institute, BiocSol aims to attract a total €10 million by year-end through additional non-dilutive and equity financing.
Agri Investment Fund and VIVES IUF led the round, bringing extensive expertise in agribusiness and biotechnology, alongside Belgian investors, including Invest.BW and IMBC Spinnova SA.
Acting as a catalyst for BiocSol’s development, this funding will allow the company to expand its team, broaden its R&D pipeline and kickstart the regulatory processes for its pioneering biofungicides. BiocSol will also be able to increase production to meet demand and optimize its quality and efficiency processes.
“We are thrilled by the confidence our investors have shown in our biopesticides technology and our long-term vision,” said Denis Payen, newly-appointed CEO of BiocSol. “With this funding we can scale up our technology, providing farmers worldwide with access to more sustainable and efficient agricultural solutions. In the face of climate change and resource limitations, our microbial-based methods offer a future-forward, eco-friendly approach.”
“This new investment is strategic for our fund as it enables us to become part of the rapidly growing Wallonia AgTech ecosystem,” said Patrik Haesen, CEO of Agri Investment Fund. “We are particularly impressed by BiocSol’s innovative approach, which addresses some of the most pressing agricultural problems by creating multiple modes of action to combat pathogens that are swiftly developing resistance to current solutions.”
BiocSol develops innovative microbial-based biopesticides empowering farmers by providing an efficient biocontrol to protect their crop. By harnessing specific microbial substances, the company creates reliable, stable and cost-effective biosolutions targeting key agricultural challenges, such as mildew agents.
“We are proud to have brought everything together to help create BiocSol and to have supported it since inception. Its unique molecular platform opens new avenues for sustainable, microbial-based crop protection. We fully believe in its mission to create resilient agricultural solutions for current and future challenges. This round is a significant achievement, especially in today’s challenging funding environment,” said Yannick Vancoppenolle, partner at VIVES Partners.
Emerging fungal and oomycete pathogens infect staple calorie crops and economically important commodity crops, thereby posing a significant threat to global food security. Indeed, plant pathogenic fungi destroy between 20 and 40% of the global annual harvest.
“Closing this seed round shows the quality and the potential of the research in applied microbiology conducted at the Earth and Life Institute of UCLouvain. We are excited to see the BiocSol team further develop this technology to address the environmental challenges encountered by the agricultural sector,” said Xavier Bastin, CEO of Sopartec SA, the technology transfer company of UCLouvain.
Simon Caulier, CTO and founder of BiocSol, concluded by saying: “We’re at a pivotal moment for the company, advancing our mission to develop sustainable crop protection solutions. This investment allows us to bring impactful solutions to agriculture, fostering a healthier planet for future generations.”
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About VIVES IUF
VIVES Partners manages two funds initiated by UCLouvain, VIVES IUF and its previous fund VIVES II. Both funds are pivotal in connecting academic research and innovative projects with public and private investors. Addressing the seed funding gap, VIVES IUF and VIVES II serve as a catalyst for transforming academic research and start-ups into viable, high-impact ventures. Notably, the VIVES II portfolio companies have raised approximately €1.5 billion ($1.6bn) in financing, demonstrating VIVES Partners’ ability to transform early-stage companies from pre-seed funding into series A/B and IPOs/trade sales. Both VIVES funds hold an impressive track record in employment creation, with VIVES II contributing to the creation of 600 full-time equivalent jobs. VIVES Partners’ funds benefit from support from the European Union under the InvestEU Fund, managed by the European Investment Fund (EIF).
About AIF
Agri Investment Fund BV (AIF) is the private equity and venture capital fund of the group Boerenbond (Farmers’ Union) and wishes through its investments to contribute directly or indirectly to stronger and more sustainable agriculture and horticulture in Flanders and German-speaking Belgium. Its investments have a focus within the Ag-Tech and Agro-Food domains aiming at stimulating innovation and helping to build stronger agriculture of the future, allowing farmers and horticulturists to provide high-quality products at honest prices.
About Invest.BW
Invest.BW is a Belgian regional ‘evergreen’ investor managing more than €100M. Its strategy is to invest in all stages of business development with the aim of supporting entrepreneurs in their long-term ambitions. The three main pillars of its investment strategy are digital entrepreneurship, medical applications and transition.
About IMBC Spinnova
IMBC Spinnova is the fund dedicated to spin-offs, spin-outs and tech companies created by IMBC in partnership with UMons. The IMBC regional fund has over €355M under management and has invested over €675M in 1,350 companies to date. IMBC is particularly active in the agro-food, tech and environmental sectors; three sectors that have predominated in the portfolio for over 20 years.
About Sopartec
Sopartec is the technology transfer company of UCLouvain. It is collaborating with the Administration of Research (ADRE) within UCLouvain’s Knowledge Transfer Office, which covers the entire technology transfer process: funding of the research contracts, identification of the inventions, protection and management of the intellectual property and the technological maturation and commercialization (through licenses and/or spin-offs). More specifically, Sopartec handles license agreements and the technological maturation of spin-off projects. More than 80 spin-offs created from UCLouvain’s research have generated as of today over 2,000 jobs.
About BiocSol
Founded in 2023, BiocSol, a UCLouvain spin-off, develops innovative, next generation microbial-based biopesticides with increased stability and efficiency that empower farmers to protect their crops sustainably. The company’s unique approach leverages specific microbial substances to deliver reliable, affordable solutions for key agricultural challenges like mildew, which affects row crops such as potatoes, including high-value crops such as other vegetables and grapes.
For more information, follow us on LinkedIn: https://www.linkedin.com/company/biocsol
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