Belgium-based biopesticide developer AgroSavfe has completed a €7.8m ($8.6m) series B round featuring agrochemical producer Globachem.
Globachem took part in the round alongside life sciences research institute VIB, private equity firm Gimv, Flemish-focused fund PMV, Madeli Participaties, university commercialisation fund Qbic Fund and Biovest, the investment vehicle of Rudi Mariën,
AgroSavfe was spun out of VIB in 2013, and is working on camelid binding domains it calls Agrobodies, which could theoretically be utilised in a range of agricultural applications, the first of which will be through a class of biofungicides.
The round followed a €5m series A round in 2013 that included a €2m investment from Gimv’s Gimv-Agri+ Investment Fund, and additional capital from VIB, PMV, Qbic and Sofi.