\u25cf<\/strong> The company tripled its revenue in 2021, providing farmers a breakthrough product now used on more than 1 million acres of farmland Pivot Bio<\/a>, the leading nitrogen innovator in agriculture, announced today the close of a $430 million Series D funding led by\u00a0DCVC<\/a>\u00a0and\u00a0Temasek<\/a>, bringing the total equity raised to more than $600 million. The funding will fuel the company\u2019s accelerating release of disruptive products focused on replacing the $60 billion of synthetic nitrogen fertilizer sold each year just to sustain corn, wheat, and rice. Synthetic nitrogen fertilizer supports the demands of today\u2019s global food system. But it is inefficient, expensive for farmers, contributes to seven percent of global greenhouse gas emissions, depletes soils, and harms water supplies and fisheries \u2013 synthetic nitrogen is no longer a viable solution for farmers and food security.<\/strong><\/p>\n\n\n\n Since the company introduced the industry\u2019s first commercially available microbial nitrogen in 2019, Pivot Bio has replaced synthetic nitrogen on more than 1 million crop acres in 2021 alone, representing more than 300% growth year-over-year and unprecedented agricultural product adoption. Pivot Bio\u2019s clean nitrogen immediately decreases and permanently prevents synthetic nitrogen emissions from the environment, potentially avoiding approximately $200 billion of environmental impact. Pivot Bio has achieved these breakthroughs with proprietary computational and microbiome technologies, multi-scale automated testing, and deep scientific expertise unrivaled by any other company in its market.<\/p>\n\n\n\n Generation Investment Management<\/a>, G2 Venture Partners<\/a>, and Rockefeller Capital <\/a>Management<\/a> join returning investors in Pivot Bio\u2019s Series D, including Series D co-leads DCVC<\/a>, also the Seed, Series A lead, and material investor in all funding rounds since the company\u2019s inception, and Temasek<\/a>, also Series C co-lead; Breakthrough Energy Ventures<\/a>, the Series B lead and Series C co-lead; Continental Grain Company<\/a>; Prelude Ventures<\/a>; Pavilion Capital<\/a>; Bunge Ventures, the venture capital arm of the leading global agribusiness and food company Bunge (NYSE:BG);<\/a> Tekfen Ventures<\/a>; and Roger Underwood<\/a>, the co-founder of industry-leading biological technology company Becker Underwood. Pivot Bio\u2019s next stage of growth will focus on rapidly scaling its U.S. business and expanding into key international markets.<\/p>\n\n\n\n \u201cPivot Bio exemplifies the power of DeepTech solutions to create equitable and profitable outcomes for all stakeholders in immense industries like agriculture,\u201d said Matt Ocko<\/a>, Co-Managing Partner of DCVC. \u201cFarmers are able to grow more crops to feed more people, more cost-effectively, while being even better stewards of their land and water. Societies benefit from both more abundant food and more climate-resilient and sustainable agriculture. Pivot Bio has delivered the kind of win-win-win breakthrough DCVC is honored to back, and on which we are focused as a firm.\u201d<\/p>\n\n\n\n \u201cWe are thrilled to be investing in Pivot Bio, given the deep trust they have built among farmers by providing solutions which are both more sustainable and profitable for their customers,\u201d said Lila Preston<\/a>, Head of Growth Equity at Generation Investment Management. \u201cWe look forward to supporting the company as it accelerates its broader climate impacts on a global basis.\u201d<\/p>\n\n\n\n Pivot Bio is selling the first disruptive agricultural products in decades through a direct-to-grower model by creating mutual trust and economic success for both the farmer and the company. Developed in close consultation with farmers, the company\u2019s nutrient measurement tools, grower engagement programs, and a direct-to-farm supply chain adapt to the dynamic challenges on each farm, and deliver long-term, predictable revenue for both Pivot Bio and its farmer partners. Pivot Bio is the only company in the world to have shipped a synthetic nitrogen fertilizer replacement at scale with performance that meet farmers\u2019 tough requirements and the company expects to retain this position for years to come.<\/p>\n\n\n\n
\u25cf Pivot Bio PROVEN\u00ae<\/sup>\u00a040, the company\u2019s fourth commercial release in three years, enables corn growers to replace up to 40 pounds per acre of synthetic nitrogen with a better source of nitrogen
\u25cf Synthetic fertilizer, a $197 billion global market, is the leading cause of crop-related greenhouse gasses, depletes soils, and harms water supplies and fisheries
\u25cf Pivot Bio\u2019s technology eliminates synthetic nitrogen\u2019s adverse effects and can prevent $200 billion of environmental damage over the next decade, while delivering consistent yields and profits for farmers in the face of a volatile climate<\/strong>
\u25cf Pivot Bio is the only company in the world to have shipped a synthetic nitrogen fertilizer replacement at scale and with performance that meet farmers\u2019 tough requirements<\/strong><\/p>\n\n\n\n