IBI Ag's Successful $10 Million Series A Funding Round Led by Corteva Boosts Bio-Insecticide Innovations

IBI Ag Secures $10 Million in Series A Funding

IBI Ag, an innovative player in the crop protection sector, has successfully finalized a second tranche of its Series A funding round, raising a total of $10 million to bolster its cutting-edge bio-insecticide platform. This financial milestone was spearheaded by Corteva, a leading agricultural firm, through its Corteva Catalyst initiative, aimed at investing in transformative agricultural technologies.

In addition to Corteva, several other organizations also contributed to this funding round, including The Trendlines Group, Iron Nation, Consensus Business Group (CBG), and financial support from the Israel Innovation Authority. The collaboration with investors such as Bandera Capital and First Imagine Ventures illustrates a concerted effort to advance sustainable agriculture solutions.

The successful completion of this funding signifies a major step forward for IBI Ag, emphasizing the rising global demand for sustainable and innovative agricultural practices. The funding will focus on accelerating product development and advancing the regulatory approval process for next-generation biological pest control solutions.

IBI Ag's proprietary technology utilizes single-domain antibodies, known as nanobodies, designed to create effective, selective insect control products. This technology, adapted from the pharmaceutical industry and refined for agricultural use, introduces new and effective modes of action against pests that threaten high-value crops. Unlike conventional pesticides, IBI Ag's solutions aim to minimize ecological footprints while supporting the preservation of beneficial species vital to agricultural ecosystems.

Arnon Heyman, the CEO of IBI Ag, expressed optimism following the funding completion, stating, "We are extremely proud to have the continued support of our investors and to welcome Bandera Capital and First Imagine Ventures to our team. This funding not only strengthens our position in the market but also brings us closer to delivering innovative biological solutions to farmers globally, enhancing productivity and sustainability in agricultural practices."

Tom Greene, the senior director at Corteva and head of the Corteva Catalyst initiative, commented on the collaboration, observing, "The partnership between IBI Ag and Corteva exemplifies how collaborative efforts can yield innovations that enhance agricultural performance while promoting sustainable practices in crop protection. We look forward to exploring the potential of next-generation biological solutions as IBI Ag progresses towards commercializing their products."

Corteva, through its Corteva Catalyst platform, is dedicated to partnering with innovators and entrepreneurs to accelerate the development of early-stage technologies that empower farmers to produce food and feed sustainably.

About IBI Ag
Founded by The Trendlines Group alongside scientists Dr. Amir Ayali and Dr. Rony Oren Benaroya, IBI Ag is a trailblazer in the agri-biotech sector, devoted to revolutionary and sustainable crop protection solutions. IBI Ag’s cutting-edge nanobody technology, offers a novel approach to control a wide array of insect pests while significantly reducing environmental impacts. With backing from regulatory bodies like the Israel Innovation Authority, IBI Ag continues to redefine the future of pest management in agriculture.

For further information, media inquiries can be directed to Arnon Heyman at IBI Ag via email.