- 25th July 2024
- 6 min read
The Toulouse-based biotech is raising €27m to launch the regulatory phases of its micro peptide-based BioSolutions for protecting crops against pathogens and resistant weeds.
Toulouse, 25 July 2024: Micropep Technologies (Micropep), the world leader in micropeptide technology, today announced a €27 million Series B financing round. Led by the Ecotechnologies 2 fund managed on behalf of the French government by Bpifrance as part of France 2030, and the Swiss fund Zebra Impact Ventures, this round benefits from the support of the company’s historical investors (Sofinnova Partners, Supernova Invest, Fall Line Capital, FMC Ventures, and IRDI Capital Investissement). This round of financing brings the company’s total funding to more than €48 million since its creation in 2016. Micropep plans to use the Series B funding to accelerate its go-to-market strategy through strategic partnerships, complete regulatory studies for its first bio fungicide molecule, and expand its micro peptide active ingredient pipeline.
A project that is increasingly attracting specialist investors
‘We are delighted to be joining Micropep at this stage of its development,’ says Edouard Combette, Investment Director at Bpifrance. ‘Thanks to its micro peptide-based products, Micropep is ideally positioned to tackle the major challenges facing farmers around the world. By harnessing the power of nature to improve crop yields and resilience, Micropep is at the forefront of global agricultural innovation. We are excited to support their vision of a future where scientific innovation is harnessed for sustainable farming practices, which will have a decisive impact on food security and environmental stewardship in the years to come.’
Micropep’s pioneering micro peptide technology promises to revolutionise agriculture in a sustainable way,’ said Lionel Artusio-Payot, General Partner at Zebra Impact Ventures, which invests through the Regenerative Growth I strategy, co-managed with Mirabaud AM. ‘By backing Thomas and his team, we are delighted to support Micropep’s growth as a future leader in BioSolutions for agriculture, in the service of a healthier planet for future generations’.
Building more sustainable agriculture for future generations
‘Because it comes in a particularly complex financing context, this new round of funding is a mark of recognition of the exceptional results we have achieved so far at Micropep and the future potential of our micro peptide discovery platform and our first active ingredients,’ said Thomas Laurent, CEO and co-founder of Micropep.
‘We are delighted to welcome Bpifrance and Zebra to help us build a more sustainable agriculture to protect global food production for future generations.’
Its proprietary Krisalix™ platform enables Micropep to discover new bioactive micro peptides much faster and more efficiently than traditional methods. ‘Finding a micro peptide sequence with biological activity of interest in plants is not easy enough. But what’s more complicated is transforming it into a formulated product that is effective and affordable for farmers’, confides Thomas Laurent. ‘Our Krisalix platform combines artificial intelligence and machine learning approaches to design new micro peptides with a suite of bioassays to test their efficacy, stability and yield in production, so that we can quickly select the most promising’.
Forging strategic partnerships to accelerate growth
Because they combine new modes of action, high efficacy in the field, excellent environmental degradability properties and affordable costs for farmers, micro peptides hold unique potential. ‘We are ideally positioned to provide the biocontrol industry with a whole new class of more sustainable active ingredients based on micro peptides. Our ambition is to work hand in hand with selected partners at different stages of the product development cycle and in different geographies to bring our solutions to farmers as quickly as possible’, explains Micropep’s CEO.
This new round of funding will help the Toulouse-based company to strengthen its existing relationships and establish new strategic alliances with leading companies in R&D, manufacturing, marketing, and distribution in the industry. ‘We believe this is the best sustainable strategy for developing a company like ours and making our micro peptide active ingredients accessible to as many farmers as possible around the world,’ says Thomas Laurent.
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About Micropep Technologies
Micropep is the world leader in the development of micro peptides for agriculture. Micropeptides are small proteins made up of around ten naturally occurring amino acids and used to control diseases, weeds or insects harmful to crops. Founded in 2016 in Toulouse and now present in France and the United States, the company has developed a unique platform combining artificial intelligence and synthetic biology to rapidly identify, test and select new micropeptides for the biocontrol industry. Micropep’s ambition is to help farmers protect their crops against pathogens and resistant weeds, while preserving yields and respecting the environment.
About the France 2030 investment plan
➔ The France 2030 investment plan reflects a dual ambition: to bring about lasting change in key sectors of our economy (health, energy, automotive, aeronautics and space) through technological innovation, and to position France not just as a player, but as a leader in the world of tomorrow. From fundamental research, to the emergence of an idea through to the production of a new product or service, France 2030 supports the entire life cycle of innovation through to its industrialisation.
France 2030 is unprecedented in its scale: €54 billion will be invested to ensure that our businesses, universities and research bodies are able to successfully make the transition in these strategic sectors. The challenge is to enable them to respond competitively to the ecological and attractiveness challenges of the world to come, and to bring out the future leaders in our sectors of excellence. France 2030 is defined by two cross-cutting objectives: to devote 50% of its spending to decarbonising the economy, and 50% to emerging players who are driving innovation, without spending anything that is detrimental to the environment (as defined by the Do No Significant Harm principle).
➔ Is implemented collectively: designed and deployed in consultation with economic, academic, local and European players to determine its strategic directions and flagship actions. Project leaders are invited to submit their applications via open, demanding and selective procedures in order to benefit from the State’s support.
➔ Is steered by the General Secretariat for Investment on behalf of the Prime Minister and implemented by the Agency for Ecological Transition (ADEME), the National Research Agency (ANR), Bpifrance, and the Caisse des Dépôts et Consignations (CDC).
For more information: https://www.gouvernement.fr/france-2030%20 | @SGPI_avenir| @SGPI_avenir
About the Ecotechnologies 2 fund
The Ecotechnologies 2 fund is managed by Bpifrance Investissement, which has received €300 millions from the French government as part of France 2030. It invests between €2m and €10m, systematically seeking pari passu co-investment with private players as a prudent investor. It targets equity and quasi-equity investments for minority stakes in innovative SMEs.
About Bpifrance and the Ecotechnologies 2 fund
Bpifrance’s equity investments are managed by Bpifrance Investissement. Bpifrance finances companies – at every stage of their development – through loans, guarantees and equity. Bpifrance supports them in their innovation and international projects. Bpifrance now also supports their export activities through a wide range of products. Advice, universities, networking and acceleration programmes for start-ups, SMEs and ETIs are also part of the services offered to entrepreneurs.
Thanks to Bpifrance and its 50 regional offices, entrepreneurs have a single, close and effective contact to help them meet their challenges.
About Zebra Impact Ventures
Zebra Impact Ventures is a Swiss-based venture capital firm focused on impact through nature and technology. It invests in early-stage and growth-stage nature-positive Agri-Tech companies that have the potential to tackle the transformation of food systems. Zebra has teamed up with Mirabaud Asset Management, the asset management arm of the Swiss family bank, to implement the ‘Regenerative Growth’ investment strategy, which funds the innovation needed to build the sustainable, regenerative food systems the world needs.
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