Agriculture Technology Startup Closes $12.3 Million

Asilomar Bio closed $12.3 million in Series B financing, led by Syngenta Ventures. Mission Bay Capital, Cultivian Sandbox Venture Partners, Fall Line Capital, and Cavallo Ventures also participated in the funding.

Asilomar Bio uses genomics, synthetic chemistry, agronomy, and data science tools to discover new molecules and rigorously test them in the field. Across a season, a field will see everything from cold and wet to hot and dry weather. The company’s first technology coming to market is a foliar spray developed through the Koch partnership that is designed for the hydraulic enhancement of crops to better survive dry spells and help them thrive in good weather. The plants respond to the spray by changing how water is transported through their roots, stems, and leaves to make them more efficient, leading to better harvest yields.