Santiago, Chile – 20th April 2024 – Exacta Bioscience, a pioneering Chilean biotechnology company, proudly announces the successful closing of a $1M USD financing round, poised to scale its cutting-edge R&D platform and accelerate the commercialization of groundbreaking biotechnologies.
Empowering Agricultural Innovation:
Exacta Bioscience is at the forefront of agricultural innovation, leveraging the immense power of micro-organisms to significantly boost crop yields while safeguarding global biodiversity. The company’s revolutionary approach presents a sustainable alternative to traditional chemical methods, positioning Exacta as a leader in the transformation of global agriculture.
Strategic Funding:
The financing round was led by Waterlemon Ventures (waterlemon.vc), a distinguished early-stage venture capital firm specializing in Agri-Food Technologies with a mission to solve global challenges. Participation from existing angel investors and the securing of $250,000 in non-dilutive funding through prestigious public grants—Start-Up Ciencia from ANID and Hemisferio 2023 from SOFOFA HUB CBT—further solidifies Exacta’s strong financial foundation.
Milestones and Achievements:
Rapid Market Entry:
Exacta has showcased its agility and innovation by launching FitoRoot, a bio-stimulant enhancing water and nutrient absorption in crops, at record speed. Now available in Chile through a strategic distribution partnership with Adama Chile, Exacta is poised for further market expansion through additional partnerships.
Advancing Next-Gen Solutions:With the new funding, Exacta is accelerating the development of its revolutionary bacteriophage technology, offering a sustainable solution to bacterial crop diseases. This innovation matches the effectiveness of chemical antibiotics without the associated environmental impact.
Vision for the Future:
Exacta’s mission is to redefine agricultural practices by replacing chemical pesticides and antibiotics with safe, stable, and effective bioproducts. The company’s commitment to sustainability and innovation is backed by a US patent for its bacteriophage technology, ensuring robust protection and paving the way for future breakthroughs.
Quotes:
- José Manuel Bustos Aguirre, CEO of Exacta:
“Securing this funding round is a testament to the confidence our investors have in our vision and technology. This investment enables us to rapidly scale the commercialization of FitoRoot® and advance our bacteriophage platform, which we believe will revolutionize sustainable agriculture and provide farmers with safe, effective alternatives to chemical antibiotics.”
- Hadrien le Hodey, Partner of Waterlemon Ventures:
"Exacta’s innovative use of micro-organisms to enhance agricultural yields and protect biodiversity is groundbreaking. The team’s talent and complementary skills are evident, and their ambition to transform global agriculture is inspiring. We are excited to support their journey and look forward to their continued success."
About Exacta:
Exacta is a Chilean biotechnology company dedicated to developing innovative bioproducts for sustainable agriculture. By harnessing the power of microorganisms, Exacta creates effective, stable, and safe solutions for crops and soil. Committed to a future free from chemical pesticides and antibiotics, Exacta is fostering a healthier environment and a more productive agricultural sector.