ECBF’s portfolio company Elicit Plant attracts €45 Million in new equity financing to accelerate global expansion

• European Circular Bioeconomy Fund (ECBF) contributes significant support alongside lead investor Carbyne Equity Partners, and existing investors Sofinova Partners and Ecotechnologies 2 fund managed by Bpifrance Investissement.

• Elicit Plant is an agri-biotech company, delivering effective bio-based solutions to combat climate uncertainties affecting farmers yields and their ability to feed populations.

• The investment aligns with the EU-Green Deal Goals, contributing to a more climate resilient and sustainable food system.

Moulins-Sur-Tardoire (Charentes), November 14, 2024 – Elicit Plant, a pioneering agri-biotech company specializing in biosolutions for broad acre crops, has raised €45 million to accelerate its global expansion as farmers face mounting climate challenges. This investment round was led by Carbyne with participation from existing investors Sofinnova, ECBF, and BPI. Primary net proceeds to the company will enhance commercialization of existing products and support further development of new solutions, aimed at providing farmers worldwide with effective products to combat the climate uncertainties affecting their yields and their ability to feed populations.

Agri-Biotech Innovation in Response to the Climate Crisis

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 key 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.

The company's current strategy is essentially based on three pillars:

• Accelerate commercial development in key markets Europe, Brazil, and U.S.A.

• Expand strategic partnerships with major agri-input players, as initiated with Bayer and BASF, to ensure on-the-ground adoption.

• Fuel the innovation momentum through a significant R&D focus and expand the portfolio of phytosterols bio-based solutions for key crops, supported by strategic research partnerships.

Committed Investors Backing the Global Agricultural Transition

The oversubscribed investment round was led by Carbyne Equity Partners, a private equity firm that invests in growing European businesses with strong market positions and a focus on R&D in its key sectors: agricultural technology, healthcare, and nutrition. Moreover, the existing investors Sofinnova Partners, European Circular Bioeconomy Fund (ECBF), and BPI EcoGreenTech reaffirmed their commitment. 

“At Carbyne 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.” – Marius Dantl for Carbyne Partners 

“As an investor committed to advancing circular bioeconomy, we at ECBF are proud to support Elicit Plant in their Series B funding round. Their groundbreaking work in plant-based stress resistance aligns perfectly with our mission to drive global environmental impact through sustainable agricultural innovation. We believe Elicit Plant's solutions hold immense potential to empower farmers globally and contribute to more resilient and sustainable farming practices.” adds Stéphane Roussel, Partner at ECBF. 

“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 clear: to strengthen our market share across three continents and become a global industry leader by 2028, and this fundraising provides us with the resources to achieve it,” concludes Jean-François Déchant, CEO of Elicit Plant.

About Elicit Plant
ELICIT PLANT is a company in the AgTech sector addressing the challenges of climate change’s impact on large crops globally by reducing plants' water consumption by up to 20% and strengthening plant health in face of environmental stresses. Its unique EliTerra® technology, based on the exogenous application of phytosterols, a set of plant-derived molecules, enhances plants’ resistance to stress by stimulating their natural defenses. Hundreds of field trials, combined with rapid adoption by farmers across three continents (Brazil, Europe, and the United States) for its first product aimed at maize, demonstrate that its bio-solutions are the only ones securing yields and providing farmers with significant returns on investment during water shortages.
For more information: www.elicit-plant.com

Press contact | Elicit Plant
Pierre-Jean Perin l pierre-jean@lanouvelle-agence.com | +33 (0)6 03 52 29 08
Claire Arnoux | c.arnoux@elicit-plant.com

European Circular Bioeconomy Fund (ECBF)
The European Circular Bioeconomy Fund (ECBF) is a private venture capital fund dedicated exclusively to the bioeconomy and circular economy. Launched by the European Commission, it invests in visionary European entrepreneurs driving the transition from a fossil-based to a bio-based economy. The ECBF aims to catalyse the transition to a sustainable future by investing in later-stage companies with high innovation potential, favourable returns and sustainable impact. Founded in 2020 and with a total of €300 million under management, ECBF is focused on deploying capital in attractive and impactful companies based in the EU-27 or 16 HORIZON 2020 associated countries. Based in Luxembourg, the fund is managed by Hauck & Aufhäuser Funds Services S.A. as Alternative Investment Fund Manager (AIFM) and advised by the experienced investment team of ECBF Management GmbH based in Germany. www.ecbf.vc

Press contact | ECBF Management GmbH
Cornelia Mann | pr@ecbf.vc| +49.160.892.774.4