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Business

NewLeaf raises $24 million for microbes

by Melody M. Bomgardner
July 17, 2017 | APPEARED IN VOLUME 95, ISSUE 29

NewLeaf Symbiotics raised $24 million in its third round of venture funding to commercialize agricultural products based on methylotrophic bacteria. Investors included Monsanto Growth Ventures, Otter Capital, and Lewis & Clark Ventures. NewLeaf’s microbes convert methanol, a waste product of plant metabolism, into nutrients that support plant growth, the company says. It plans to develop seed and soil treatment applications. In addition, NewLeaf will triple the size of its R&D and pilot facility in St. Louis.

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