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Fyto Raises $15M to Help Automate Aquatic Plant Production

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July 7, 2022

Fyto, which is leveraging automation to unlock the power of specialized aquatic plants, has announced it raised $15 million in Series A funding. The round was led by GV, with existing investors AgFunder, Refactor Capital, First Star Ventures, and Bolt also participating.

Fyto develops hardware and software that automate and scale the production of highly nutritious aquatic plants, which form a more resilient foundation for feed, food, and soil health. The company said its technologies let farmers increase productivity and improve nutrient management while significantly reducing production costs, water usage, and greenhouse gas emissions.

“We’re thrilled to partner with GV, who share our vision of working with food producers to create a more economically and environmentally balanced food system,” said Jason Prapas, Ph.D., founder and CEO of Fyto. “This round of funding, along with the support of our prior investors, enables Fyto to achieve commercial-scale production of these amazing plants, while conducting rigorous scientific trials to quantify the benefits we can present to farmers and the climate.”

Fyto said its technologies produce essential nutrients in much more efficient ways than traditional agricultural methods. These superplants, which can be grown and harvested year-round, include key amino acids, energy, vitamins, minerals, and fatty acids, and have been shown to be highly palatable and digestible. In 2021, the company piloted its technology on a dairy farm in Northern California.

Fyto’s patented, automated system can utilize waste streams from farming operations as inputs and has the potential to reduce greenhouse gas emissions from these operations by more than 50%. Fyto said its farms can generate 10x to 20x more protein per acre, while using 5x to 10x less water than industry-standard feed ingredients, such as alfalfa, the largest water consumer in California. Fyto said it plans to start with feed for dairy cows.

“The global food system is facing enormous challenges, and Fyto’s automation technology holds the promise to create a more sustainable solution for farmers,” said Andy Wheeler, general partner at GV, who has also joined the board of directors for Fyto. “The company can have an immediate impact in livestock applications while advancing its technology platform to create meaningful progress in the agricultural sector.”

For more details on Fyto and its technology, visit its website here.


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