AgroSustain secures CHF 500’000 to prepare for commercial rollout
Swiss Food & Nutrition Valley member, AgroSustain, has secured a FIT Tech Growth loan, completing the startup’s CHF 4.8 Million Series A funding round and laying the foundations for imminent market launch.
Food waste: a growing issue
The Food and Agriculture Organization (FAO) estimates that approximately one-third of global food production – worth around USD 1.66 trillion – goes to waste annually. Storage and transportation of perishable crops has become a key challenge in the food industry and results in a significant proportion of these annual losses.
AgroSustain, a Swiss startup founded in 2018, has set out to tackle this issue by developing a biological & natural farm-to-fork solution for sustainable plant protection. Their 100% natural innovative coating extends crop freshness by more than 20 days, while its biological fungicides protect a broad number of agronomically important crops – like grapes and wheat – from molds that may lead them to spoil.
The journey so far
AgroSustain has developed and certified its natural fungicides and coating and has filed four patents. The team has also signed over 15 pilot trials with some of the largest European and Swiss retailers and wholesalers, and set up its production facilities. The team behind AgroSustain is now planning to launch their first product – natural coating for extending the shelf-life of fruits and vegetables this March, in partnership with two well-established wholesalers and retailers. AgroSustain’s second product – a natural fungicide – is currently undergoing efficacy studies at the field scale.
Over the past three years, AgroSustain’s team grew from two co-founders to twelve employees. The startup has received support from numerous programs – including BRIDGE, Venture Kick and Horizon2020 – EIC grant, to the tune of CHF 4,8 Million. In addition to non-dilutive funding, AgroSustain also secured over CHF 5 Million in three rounds of investments, including a FIT Tech Seed loan in 2019 that helped the company to strengthen its product development, hire top-class researchers and build its unique, highly effective natural coating.
The funds from this new FIT Tech Growth loan complete the startup’s CHF 4.8 Million Series A funding round closed in July 2021 and will enable AgroSustain to bootstrap the commercial rollout of its natural coating and continue work on its biological and natural fungicides. The team is also planning to hire a Head of Sales and two field technicians to strengthen their client traction and attract new customers.
AgroSustain’s CEO, Olga Dubey, said: “We’re happy to receive the FIT Growth Loan that provides financial support and gives a credibility stamp for our performance. We’re now actively looking to connect with players active in the supply chain of fresh fruits and vegetables, who are motivated to extend the shelf-life of their products using natural solutions. Please do get in touch if you’d like to collaborate.”
Find out more on AgroSustain’s website: www.agrosustain.ch
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