Spain-based agricultural genetics technology developer PlantResponse Biotech has raised €5.7m ($6m) in a round led by Monsanto Growth Ventures, which invests on behalf of agribusiness Monsanto, Cinco Dias reported on Wednesday.
Monsanto was joined in the series A round by biotechnology producer Novozymes, Caixa Capital Risc, which acts as financial services firm La Caixa’s venture capital arm, and investment firm Middleland Capital.
Spun out of Universidad Politécnica de Madrid in 2008, PlantResponse is developing genetics technology intended to either improve crop productivity and resistance to disease, or to faciliate the breeding of new, more productive and stress-resistant plant strains.
The company plans to put the series A cash towards further developing, and bringing to market, its product portfolio while also developing new products, CEO Eduardo Quemada told Cinco Dias.