PSU Startup, Boragen, Receives $10 million Series A Funding from AgTech Accelerator
Boragen Inc, an Eberly College of Science Lab Bench to Commericialization and Fund for Innovation grant recipient has received $10 million in Series A funding.
AGFunderNews.com reports Boragen received $3 million from the AgTech Accelerator. In addition to the capital investment, AgTech Accelerator helped facilitate more fundraising, which included $7 million from the Bill and Melinda Gates Foundation.
Stemming from initial research funded through the Eberly College of Science’s Lab Bench to Commercialization Program and the Fund for Innovation, Stephen J. Benkovic and C. Tony Liu of the Department of Chemistry co-founded Boragen to develop next-generation fungicides to improve crop-pest resistance. Their technology also works toward more sustainable farming practices by mitigating fungicide resistance and reducing the amount of chemicals applied per acre.