Marrone Organic Innovations, Inc. has closed an overscribed private round of financing of $3.75 million.
Clean Pacific Ventures of Mill Valley, CA, led the deal. Other investors include One Earth Capital, Saffron Hill Ventures, Calvert Social Investment Fund, and Wavepoint Ventures. Also participating were leading members of California’s agricultural industry as well as prominent local angel investors.
“We are impressed by Pam Marrone’s track record of building successful biopesticide companies, the experienced team she assembled, and the company’s rapid progress with licensing products while launching its own R&D,” said Sean Schickedanz, General Partner of Clean Pacific Ventures.
The new funds will enable the company to expand business operations, develop its growing pipeline of natural pest management products, and continue efforts to license promising technology.
Marrone Organic Innovations recently launched GreenMatch(TM), an effective, safe, and natural weed control product for organic farming. Weeds are the single largest cost of organic production, and a major hurdle for farmers who want to transition to organic methods. The product has the potential to significantly improve yields and reduce costs of organic production.
Marrone Organic Innovations develops effective natural products for weed, disease, and pest management. Through a combination of in-licensed technology and its own R&D, it develops products that target markets needing effective and environmentally responsible solutions. The company’s R&D finds naturally occurring microorganisms from unique habitats and develops them into products for controlling insects, weeds, nematodes, and plant diseases.
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