Elicit Plant announces a €45 million fundraising round to accelerate its international growth. This new investment, led by Carbyne with participation from existing investors will enhance the commercialization of Elicit Plant’s products and intensify its research to develop new solutions to meet the needs of farmers facing climate instability

Elicit Plant, a pioneering agri-biotech company specializing in biosolutions for broadacre crops, has recently secured €45 million in funding to accelerate its global expansion. This investment round, led by Carbyne Equity Partners with participation from existing investors Sofinnova Partners, the European Circular Bioeconomy Fund (ECBF), and Bpifrance Investissement, aims to enhance the commercialization of Elicit Plant’s products and support the development of new solutions to address the challenges farmers face due to climate instability.

Addressing Climate Challenges in Agriculture

As global agricultural yields face increasing threats from frequent and extreme climate events, Elicit Plant delivers innovative solutions that leverage the unique properties of phytosterols to enhance plant health in the face of environmental stress. Since 2022, Elicit Plant’s products have become well-established in France and strategic markets like Brazil and Eastern Europe, focusing on corn, sunflower, cereals, and soy. In addition, the company obtained Marketing Authorization in the US to launch its first commercial product for corn.

Strategic Objectives for Global Expansion

Elicit Plant’s current strategy is based on three pillars:

Accelerate Commercial Development: The company plans to expand its presence in key markets, including Europe, Brazil, and the United States, to provide farmers with effective biosolutions.
Expand Strategic Partnerships: Building on existing collaborations with major agri-input players such as Bayer, BASF, and Certis Belchim, Elicit Plant aims to ensure on-the-ground adoption of its products through strategic partnerships.
Fuel Innovation Momentum: With a significant focus on research and development, the company intends to expand its portfolio of phytosterol-based solutions for key crops, supported by strategic research partnerships.

Investor Confidence in Sustainable Agriculture

The oversubscribed investment round reflects strong investor confidence in Elicit Plant’s mission and capabilities. Marius Dantl of Carbyne Partners stated, “We believe in the crucial role of biosolutions in the transition towards sustainable agriculture. Elicit Plant’s accomplished management team, the superior value proposition to farmers in key agricultural production regions as well as field-proven products’ performance absolutely convinced us.”

Similarly, Michael Krel of Sofinnova Partners remarked, “Elicit Plant has demonstrated its ability to transform agriculture with the launch of its products that deliver tangible results. We firmly believe that their innovative vision and expertise will continue shaping the future of global agriculture.”

A Vision for the Future

Jean-François Déchant, CEO of Elicit Plant, expressed confidence in the company’s trajectory, stating, “This fundraising is a validation of our success in the French, European, and Brazilian markets. We are at the forefront of supporting farmers in the face of growing climate impacts with proven solutions. The international adoption of our products is gaining momentum, supported by key partners like Bayer and BASF. Our objective is to strengthen our market share across three continents and become a global industry leader by 2028.”

With this substantial investment, Elicit Plant is poised to make significant strides in the agri-biotech sector, offering innovative solutions that empower farmers to navigate the complexities of climate change and ensure sustainable agricultural practices worldwide.

Source- Elicit Plant