Slow-release-fertilizer maker Anuvia raises $65.5 million

The Florida-based fertilizer maker Anuvia has raised $65.5 million in series D funding to increase production capacity for its slow-release fertilizer. The company breaks down organic waste into amino acids via hydrolysis to make an organic material that binds with plant nutrients. The organic material is then mixed with conventional nutrients, causing them to release over several weeks to maximize efficiency. Fertilizer prices have increased substantially since the summer of 2021 after supply disruptions caused by natural disasters, the COVID-19 pandemic, and the war in Ukraine.