Pluto Biosciences Raises $16.5M in Series A Funding to Revolutionize Agriculture Through Microbial Cover Crops
Pluto Biosciences has been making waves in the agricultural industry, developing technology that harnesses the power of nature to create sustainable and effective solutions for farming. Earlier this year, the company raised $6.6 million in seed funding to research and isolate microorganisms and bacteria that have practical applications in agriculture. Now, Pluto is taking it to the next level with a $16.5 million series A funding round that will help the company commercialize its most promising findings.
Identifying and Isolating Microbes for Practical Application
At the core of Pluto’s mission is a commitment to using nature’s solutions to solve problems in agriculture. By isolating beneficial microorganisms and bacteria found in soil and microbiomes, the company aims to create microbial products that can have a transformative impact on farming.
This approach is based on the idea that nature is incredibly proficient at solving problems through billions of years of evolution, resulting in an enormous biodiversity in every type of soil and microbiome. By examining these natural solutions and testing them for practical applications in agriculture, Pluto has been able to identify and isolate several promising microbes.
One of Pluto’s most significant findings is what the company calls a “microbial cover crop.” This crop captures and sequesters carbon and nitrogen in the soil, which is beneficial for the environment and crops. With nitrogen-filled fertilizer a significant market, the potential for this alternative to be a valuable commodity is material.
Finding a Commercially Viable Solution
While discovering new, useful microbes is exciting, Pluto recognized the need to develop a commercially viable solution that would work as both a product and a project. As such, the company has been focusing on developing microbial cover crops that can be used in agriculture.
By sequestering carbon and nitrogen in the soil, Pluto’s microbial cover crops offer a practical application that could be valuable to farmers. It’s estimated that the microbial cover crop market could be worth as much as $450 million by 2025, with interest from a range of industries. Pivot Bio’s microbial alternative to nitrogen-filled fertilizer has already grossed a whopping $430 million in 2021 and opens up possibilities for the microbial cover crop market.
To ensure the viability of its microbial cover crops, Pluto has already conducted highly repeatable laboratory and greenhouse testing on several candidate products. The next step is field testing to quantify the sequestration process’ effects and how they affect the soil.
Pluto’s Microbes Offer Novel Solutions for Industries Beyond Agriculture
Pluto’s research has uncovered more microbes than those that can be used directly in agriculture. For example, the company has discovered new microbes that generate durable carbon that will persist in soils for decades which may have the potential to be utilized in other industries.
It is remarkable that the company has disclosed that while studying one of their microbes, they discovered a new molecule that acts as an insecticide against a particular pest, the armyworm.
Expanding Pluto’s Research Capacity
As a result of its work developing microbial cover crops and discovering new microbes, Pluto has doubled in size from 8 to 17 employees and expects to double again over the next year. The company’s office has also doubled in size, reflecting its commitment to continued growth and expansion.
With the recent $16.5 million series A funding round, Pluto will have the resources to continue its research and development efforts. This latest round of funding was led by Illumina Ventures and RA Capital, with participation from Fall Line Capital, The Grantham Foundation, First In Ventures, Wollemi, Radicle Growth, and iSelect.
Unique Insights
Pluto Biosciences has an innovative and sustainable approach to agriculture and farming. The company has harnessed the power of nature to create practical solutions that could have an enormous impact on the industry.
Their approach to isolating microbes and bacteria from natural environments and testing them for practical applications is a unique and effective strategy that could provide sustainable solutions beyond agriculture. Furthermore, their innovative microbial cover crop technology presents a novel approach to combat climate change and enrich soil health.
Another exciting outcome is that Pluto has found applications beyond agriculture with its microbes that generate durable carbon that could persist in soils for decades with potential uses in other industries such as renewable energy, carbon capture and storage, and biodegradable plastics.
Summary
Pluto Biosciences has raised $16.5 million in a series A funding round to continue its innovative work developing microbial cover crops and discovering new microbes that could revolutionize agriculture. The company’s approach to isolating beneficial microorganisms and bacteria found in soil and microbiomes has led to the discovery of promising, practical solutions that could have a transformative impact on farming.
Their microbial cover crops offer unique benefits to the environment and the crops they nourish. The company has focused on selecting microbes that have applications as a product, not just a project, which could lead to significant commercial success down the line. By testing these organisms in laboratories and greenhouses, Pluto has delivered early results that highlight the potential of its research and development efforts.
Beyond agriculture, Pluto’s work holds significance for a wide range of industries, which opens new possibilities for cutting-edge biotechnological solutions. With thorough laboratory and field testing, financial support, and commitment to continued growth and expansion, Pluto Biosciences has the potential to make a significant impact not just in agriculture but in other industries as well.
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Pluto Biosciences is hard at work identifying beneficial microorganisms and putting them to work in agriculture, and has just raised a $16.5 million A round to commercialize its most promising findings.
The company raised its seed round of $6.6 million in 2021, and i reported then about his approach to identifying and isolating microbes and bacteria that do useful work. Nature is pretty good at solving problems through billions of years of evolution, and there is enormous biodiversity in every bit of soil, or microbiome.
As cool as it is to isolate and study dozens of micros new to science, ultimately Pluton needed to pick one that would work as a product, not just a project. They settled on what they call a “microbial cover crop” that captures and sequesters carbon and nitrogen in the soil. This process is not only good for crops and the environment, but is potentially a very valuable market; pivot biography grossed a monster $430 million in 2021 commercialize a microbial alternative to nitrogen-filled fertilizer.
“We have highly repeatable laboratory and greenhouse data for several candidate products that sequester carbon and nitrogen from the atmosphere and put it in the soil. The first tests verified growth in the soil during the target season in agricultural fields,” CEO and CFO Elizabeth Gallegos said in response to questions from TechCrunch. Field trials this year should quantify the sequestration process and how the product affects (possibly, presumably) the soil itself.
Meanwhile, R&D continues, on the carbon side and more generally on the environment:
“We have discovered new microbes that generate durable carbon that will persist in soils for decades and have the potential to be used in industries outside of agriculture,” Gallegos said. And one of his microbes led them to discover a new molecule that acts as an insecticide against a particular pest, the armyworm, which may be his next big thing.
The company has doubled in size from 8 to 17 people and expects to double again over the next year; the physical size of its office and laboratory has also doubled, and is expected to continue to grow as well.
The new round of funding was led by Illumina Ventures and RA Capital, which tend to focus on genomics, precision health, and other life sciences verticals. Fall Line Capital, The Grantham Foundation, First In Ventures, Wollemi, Radicle Growth and iSelect also participated in the increase.
Pluton Biosciences takes its carbon-fixing microbes to market with a fresh $16.6M
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