RESEARCH TRIANGLE PARK – Agtech startup Vestaron is looking to raise $101 million and already has 13 backers in the round, according to an SEC filing.

So far, the investors have committed more than $61 million.

The funding is in exchange for equity, the filing notes.

The company recently won approval to sell its biopesticide in Mexico and is seeking FDA approval for a second line of products.

Vestaron develops biopesticides that target the nicotinic acetylcholine receptor of the insect’s nervous system.

“Our pipeline is deep, and we are confident that our products will be the solutions growers need to initially strengthen and ultimately completely evolve their IPM strategies for years to come,” CEO Anna Rath said in a prepared statement when the Mexico news was announced.

Read the filing online:

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