RESEARCH TRIANGLE PARK – Plant Response, which selected the Triangle for its headquarters location in 2017, has raised more than $9 million in debt, including an option, warrant, or other right to acquire another security, from six investors, according to an SEC filing.
The company recently announced the acquisition of WISErg, a startup based in Washington state that developed technology to capture nutrients from food scraps and convert them into fertilizers, and aims to build its offering of biological products and nutrient efficiency technologies that help drive sustainable agriculture, including deploying its products to increase the amount of carbon that can be sequestered per acre.
Triangle agbio company Plant Response acquires Seattle startup
“Biologicals provide potential to help solve some of the biggest challenges faced in food production and the environment including improving soil health and better use of limited resources,” said Tom Snipes, the CEO of Plant Response in a statement.
The company may raise an additional $3 million, according to the SEC filing, which was signed yesterday by the company’s attorney-in-fact. A spokesperson for the company confirmed to WRAL TechWire that the company is still in the process of closing some of the round and declined to comment further.
Plant Response raised $1 million of a possible $2.5 million in a debt investment from four investors, all of whom invested $250,000, in September 2020, according to a prior filing with the SEC, which came a little less than a year after the company raised $76.9 million and the acquisition of two companies in early 2020.
