Following the results achieved over the past 12 months and to finance its international deployment, Agriodor increases its funding from 2023 to €8 million.
Paris, February 21, 2024 - Agriodor has unveiled its unique and patented biocontrol technological platform. It is an industrial process that allows for the rapid development of alternatives to insecticides. The developed solutions combine scents based on kairomones (attractants) or allomones (repellents) that modify the behavior of pest insects and reduce damage to crops while respecting the environment and biodiversity.
The first application addresses the highly sensitive issue of Sugar Beet with the aim of providing a concrete and effective alternative to insecticides, enabling farmers to produce in a more sustainable manner. The results obtained in the fields over the past three years have secured the efficiency of this solution. This product, developed in collaboration with various stakeholders in the sector as part of the PNRI, has an application method compatible with farmers' equipment, allowing for widespread use. Trials on 500 hectares are being conducted in France this year to enable commercialization from the 2025 season, representing more than 2 tons of scented granules. Trials in the main European countries affected by the same issue are also currently under study.
Following these successes, making Agriodor's solution and its application method a global first, the French company based in Rennes is accelerating its development and internationalizing.
The additional funding will enable the deployment of the technology on new crops (fruit trees, potatoes, lettuce, oil seed rape, soybeans, etc.), new insect families, and new countries and continents (Europe, United States, Brazil, etc.) to address a market of over 2 billion dollars.
According to Mr. Alain Thibault, founder and CEO of Agriodor, "we have an incredible team that perfectly masters a new technology, all in a highly modern and automated laboratory based in Rennes. We have the ability, as we did for Sugar Beet, to develop a range of solutions to replace insecticides in 3 years. We are accelerating our presence in the American and Brazilian markets, which are very important markets where biocontrol has its place and where regulations are also much more pragmatic than in Europe."
A future agroecology "unicorn"
The total funding round, with this addition, amounts to €8 million and brings together prestigious and committed partners: Cap Horn, BNP Parisbas Développement, Capagro, Swen Capital Partners, and Breizh up.
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About Agriodor
Founded in 2019, Agriodor is a biotechnology company specialized in fighting crop pests. Agriodor, a spin-off of INRAE and a member of French Tech 2030, has assembled a high-performance and international team to achieve a very ambitious goal: to become a global leader in olfactory technology for agriculture. Under the scientific leadership of Ené LEPPIK PhD (CTO), Agriodor brings together a multidisciplinary team also led by Camille DELPOUX (COO), Alain THIBAULT (CEO), and Olivier Le Port (CFO), with the mission of reducing the use of phytosanitary products by offering farmers effective alternative solutions.
Contact AGRIODOR:
Alain THIBAULT : +33768117417 - Alain@agriodor.com
To know more : https://agriodor.com