Shift Invest, the venture capital fund backed by insurance company Menzis and financial services firm Rabobank, has invested an undisclosed amount in Netherlands-based biodegradable polymer producer GreenA.
This investment will enhance Shift Invest’s portfolio, which focuses on Dutch innovation relating to food and agriculture, healthy nutrition and clean technologies.
GreenA supplies an additive called Squall that reduces the drift of pesticides droplets and enhances rain fastness by 50%, maximising its effectiveness in crop spraying. The product will be made publicly available across the Netherlands this spring.
GreenA intends to use the capital to help accelerate its market development plans across Europe and North America.
The company’s early funding came from Life-Eureka, an investment initiative run by the European Commission between 2004 and 2008, with follow-up investment coming from the Dutch Ministry of Infrastructure and Environment.
Shift Invest fund manager Guus Verhees said: “The potential of Squall can contribute to the sustainability of the agricultural sector. Together with our partners we will support the company in the development, implementation and success of Squall in the market.”