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Agriculture

Groundwork raises $18 million for fungal crop boosters

by Matt Blois
August 28, 2022 | A version of this story appeared in Volume 100, Issue 30

 

Groundwork BioAg has raised $18 million in series B financing to help commercialize fungal strains that can improve crop yields and store carbon in soil. The Israeli company’s fungal strains form a web of long filaments that attach to plant roots, helping them absorb water and soil nutrients. Investors, including BASF’s venture capital fund and Climate Innovation Capital, claim that the product reduces dependence on fertilizers.

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